Zimpleman Expands Role at Principal
« Key in Target-Date Funds: Diversity and Downside Protection
Deals & People February 26, 2008
Larry D. Zimpleman will take on the new role of chief executive officer at the Principal Financial Group, effective May 1, 2008.
Reported by PLANADVISER Staff
Zimpleman will retain the title of president, as he assumes complete responsibility for company strategy and operations, according to the firm. J. Barry Griswell will continue as chairman.
The change was announced by the company’s Board of Directors, as part of its planned succession process.
Zimpleman joined the company in 1971 as a part-time actuarial student and became a full-time actuary in 1973. From 1976 to 1997 he served in various management and leadership positions in the Pension department. He was named vice president in 1997, senior vice president in 1999, executive vice president in 2001, president of Retirement and Investor Services in 2003, and president and chief operating officer in 2006.
Other Changes
The Principal also announced the following executive promotions, effective March 1, 2008:
Daniel J. Houston as president – Retirement and Investor Services (RIS) Division with responsibility for U.S. asset accumulation businesses, including Principal Bank. In addition to his current responsibilities for the full service pension business and RIS distribution, Houston adds responsibility for the mutual fund and annuity lines of business. He joined the company in 1984 as a group representative in the Dallas group and pension office. He held various management positions with the company from 1990 to present, including being named vice president in 1997, senior vice president in 2000 and executive vice president in 2006.
Norman Sorensen is named executive vice president with responsibility for strategy, development and operation of all international asset accumulation businesses for The Principal. Sorensen joined the company in 1998. Previously he was a senior executive at AIG. Prior to joining AIG, he held a number of senior international marketing and general management positions at American Express Company and Citigroup.
Gregory J. Burrows is named senior vice president – Retirement and Investor Services with responsibility for the full service pension business. He joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales. From 1994-1996, he was president and CEO of America’s Health Plan, a former subsidiary. Burrows served as the managing director of Principal International’s Argentina operation from 1996-1999 and Japan operation from 1999-2001. He returned to Des Moines, Iowa, in 2001 as the Retirement and Investor Services chief marketing officer, where his responsibilities included merger and acquisition oversight.