According to the announcement, effective June 1, Zimpleman will oversee all global and domestic operations, including: the US and international asset accumulation businesses; Principal Bank; the life and health insurance businesses; and the global asset management businesses under Principal Global Investors.
Zimpleman has spent more than three decades at the Iowa-based company, starting as a part-time actuarial student in 1971, the announcement said. From 1976 to 1997 he held various management positions, before being appointed vice president in 1997, senior vice president in 1999, and executive vice president in 2001. In 2003, he became president of Retirement and Investor Services.
A spokesperson for the company told PLANSPONSOR that no one has yet been named to succeed Zimpleman.
J. Barry Griswell will remain at in his position as chairman and chief executive officer, overseeing company strategy, mergers and acquisitions and corporate functions. “He brings deep retirement expertise, a strong global perspective, and impressive industry leadership,” Griswell said of Zimpleman in the release.
In addition, The Principal announced Daniel Houston has been named executive vice president responsible for the full service pension business and retirement distribution.