Principal® Announces Executive Promotions in Corporate Finance, US Insurance Solutions

DES MOINES, Iowa–(BUSINESS WIRE)–Main financial group^® today announced senior management promotions within Corporate Finance and US Insurance Solutions (USIS).

• Joel Pitz is called senior vice president and chief controller^®, starting November 15. In this new role, he will have leadership responsibilities for corporate accounting, global sourcing and financial reporting. Pitz was previously vice president and chief financial officer of Principal International and held several other leadership positions during his 26 years at Principal, including the corporate role of assistant vice president and chief accounting officer. He will report to Deanna Stable, Chief Financial Officer of Principal, and succeeds Angie Sanders, who will retire after 32 years at Principal.

• Nate Schelhaas is called senior vice president, in charge of protection solutions for USIS, starting October 15. In his new role, Schelhaas will be responsible for the company’s life insurance and non-qualified deferred compensation business lines, in addition to leading product development for the business owner segment. Previously, he was vice president and actuary of Principal’s individual life division, focusing on product development and strategy. Schelhaas has been with the company for 24 years and has held various positions including CFO for the life insurance industry. Schelhaas will report to Amy Friedrich, president of USIS, and succeeds Greg Linde, who will retire after nearly 30 years at the principal.

“Joel and Nate have built their careers at Principal, progressing to increasingly senior positions within the company,” said Dan Houston, President, President and CEO of Principal. “I have confidence in their leadership, experience and strategic thinking to help serve our customers and guide our organization into the future.

After Pitz transitioned to his new role, John EganVice President and Head of Investor Relations, will assume the role of Vice President and Chief Financial Officer of Principal International. Egan will report to Pat Halter, president of global asset management for Principal, and will continue to lead investor relations until a successor is named.

About Principal Financial Group^®

Main financial group^® (Nasdaq: PFG) is a global financial company with 18,000 employees^[1] passionate about improving the wealth and well-being of people and businesses. In business for over 140 years, we help over 45.5 million customers^[2] plan, insure, invest and retire, while working to support the communities where we operate, improve our planet and build a diverse and inclusive workforce. Main^® is proud to be recognized as one of the world’s most ethical companies^[3]member of the Bloomberg Gender Equality Index, and in the Top 10 »Best Workplaces in Money Management^[4].” Learn more about Principal and our commitment to sustainability, inclusion and purpose at principal.com.

^[1] As of June 30, 2020.

^[2] As of June 30, 2020.

^[3] Ethisphere Institute, 2021.

^[4] Pensions and investments, 2020.