Succession Will Follow Retirement of 37-Year Veteran

Larry Zimpleman will assume responsibility for retirement and investor services at The Principal Financial Group, the company announced today.

Zimpleman, an executive VP, will replace Richard Prey, who is expected to retire January 31 next year after serving nearly 37 years with the firm. Principal announced Zimpleman's transition in advance to 'insure a smooth transition,' the company said.

Currently, Zimpleman oversees global expansion efforts and the integration of the company's domestic pension operation with retirement business outside the U.S. He has been with the company since 1971.

In addition, Daniel Houston, also a senior VP, will be named head of Principal's pension business unit. Houston is responsible for domestic retirement administration and joined the company in 1984.

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