BNET Industries

Market Cap:$6.0B
Last Fiscal Year Sales:$9.9B
  • Public
  • US
Dow Jones Description

The Principal Financial Group (The Principal ) is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services. Our range of products and services includes retirement solutions, life and health insurance, wellness programs, and investment and banking products through our diverse family of financial services companies and national network of financial professionals.

Chairman, President, CEOJ. Barry Griswell
Number of Employees 16,234
Contact Information

711 High St

Des Moines, Iowa 50392-0001

principal.com

(515) 247-5111

NAICS Code Direct Health and Medical Insurance Carriers: 524114

Recent Events

  • Hartford falls after accepting TARP, selling stock

    6/12/09 - New Investment - View Story

  • Principal Financial Group Fights Rising Health Care Costs for Northern Nevada Customers

    6/08/09 - Joint Venture / Alliance - View Story

  • Morgan Stanley Upgrades Principal Financial Group PFG to Overweight

    5/27/09 - Bond / Stock Rating - View Story

  • Principal Financial Group PFG NewsBite - PFG Upgraded By FBR Capital Markets

    5/27/09 - Bond / Stock Rating - View Story

  • Principal Financial Group, Inc. Announces Preferred Dividend

    5/21/09 - Stock Split / Dividend - View Story

  • Fitch Rates Principal Financial Group's Senior Debt 'A-'

    5/21/09 - Bond / Stock Rating - View Story

  • The Principal Financial Group Names Larry Zimpleman Chairman - Update

    5/19/09 - Mgmt. Change Entering - CEO - View Story

  • Principal Financial board elects Zimpleman chair

    5/19/09 - Mgmt. Change Leaving - President - View Story

  • A.M. Best Assigns Ratings to Principal Financial Group Inc.'s New Senior Notes

    5/19/09 - Product Announcement - View Story

  • FBR Capital Upgrades Principal Financial Group PFG to Outperform

    5/26/09 - Bond / Stock Rating - View Story

  • Insurers Back Away From TARP

    5/18/09 - New Investment - View Story

  • Goldman Sachs Upgrades Principal Financial PFG to Neutral

    5/14/09 - Bond / Stock Rating - View Story

  • S&P cuts Principal Financial on capital concern

    5/05/09 - Bond / Stock Rating - View Story

  • Principal Financial Group, Inc. Reports First Quarter 2009 Results

    5/04/09 - Financial Announcement - View Story

  • Principal Releases New Enrollment Workbook

    5/01/09 - Product Announcement - View Story

News & Analysis

principal financial group - All News and Analysis

Decision Makers

Name (plus bio) Position
Jocelyn Carter-Miller President, Teched Ventures
Joseph Houston Daniel President, Ret. & Invst. Services
Ralph C Eucher President, Human Resources
Thomas J. Graf Senior Vice President, Investor Relations
Ellen Lamale Senior Vice President & Chief Risk Officer
Gary Scholten CIO
John O. Ievalts CIO, Principal Residential & Vice President
Julia M. Lawler Chief Investment Officer & Senior Vice President
Mary A. O'Keefe Chief Marketing Officer
Mike Gersie Cfo
Nevin E. Adams Editor-In-Chief
Sandra L. Helton Executive Vice President and Chief Financial Officer, Telephone and Data Systems, Inc
Terry Lillis Senior Vice President and Chief Financial Officer
Angelo M. Nardi Executive Vice President
Karen Shaff Executive Vice President
Norman R. Sorensen Executive. Vice President, International
Carey Jury Senior Vice President, Health
David Shafer Senior Vice President, Health
Deanna D Strable Senior Vice President, Specialty Benefits
Deanna Strable-Soethout Senior Vice President, Specialty Benefits
Greg Burrows Senior Vice President, Retirement and Investor Services
James D. DeVries Senior Vice President, Human Resources
Joyce N. Hoffman Senior Vice President
Julia M Lawler-Johnson Senior Vice President
Margaret W. Skinner Senior Vice President, Life and Health Division
Mary Keefe Senior Vice President
Nora M. Everett Senior Vice President
Paul Bognanno Senior Vice President
Robert A. Slepicka Senior Vice President
Ronald L. Danilson Senior Vice President, Retirement & Investor Services
Tim Minard Senior Vice President, Retirement Distribution
Ben Hall Regional Vice President Nonqualified Plans
Connie Rank-Smith Vice President, Human Resources
Daniel B. Barry Regional Vice President Nonqualified Plans
David J. Brown Vice President, Compliance
Eleanor Biddulph Vice President
Gretchen Barress Vice President, Sales
Jeff Schreiber Vice President, Business Development
John E. McClain Vice President, Human Resources
Lynn M. Graves Vice President, Executive Operations
Mike Deon Advanced Planning Regional Vice President
Patrick Kane Regional Vice President Life Brokerage
Phil Kuhn Vice President
R. Lucia Riddle Vice President of Government Relations
Renee Schaaf Vice President
Rick Helms Regional Vice President Life Brokerage
Robert Scherzer Vice President of Sales Retirement Services
Sudhin Padhye Vice President, Operations at Principal Pnb Asset Management Company Pvt
Timothy Sellers Advanced Planning Regional Vice President
Todd J. Broussard Advanced Planning Regional Vice President
Torey Jacobs Regional Vice President, Life Insurance Wholesaler, Individual Distribution
Troy Randall Life Regional Vice President
Corey Rosen Executive Director & Founder
John Blackman Managing Director, Indiana Business Center
Marty F. O'Brien Managing Director
Todd Robertson Managing Director
Allen Heckendorf Development Director
Cherrise Crawford Director, Marketing
Heidi Hoffland Recruiting Director
Susan Houser Assistant Director, Media Relations
Tammy Clark Recruiting Director
Theresa McConeghey Product Director
Tuba Malinowski Director, Marketing
Christopher J Monroe Manager
Michelle Swanda Manager, Marketing
Pankaj Tibrewal Fund Manager
Steve Hoskins Office Manager
Greg Elming Senior Vice President and Controller
Leslie Petersen Financial Controller
Anita Lewandowski Senior Training Analyst
Arjun K. Mathrani Principal
Bob Donovan Financial Representative
Carrie J McCain Actuary
Charles Schneider Attorney
Elizabeth E. Tallett Principal, Hunter Partners, Llc
Jack Fries Registered Representative
James V. Grant Senior Financial Accounting Leader
John D. Quinlan Financial Advisor
Marco Rodriguez Financial Advisor
Mary Colette Wilkins Leader
Michael Rappa Financial Planner
Roni Schuling Senior It Analyst
Rose Vasquez Diversity Consultant
Ryan Donovan Agent
Sandeep Bagla Head
Shyam Bhat Principal
Sonali Bendke Company Secretary
Teresa Ahrendt Representative
Therese M. Vaughan Principal
Charles S. Johnson Director
Federico F. Peña Director
Gary E. Costley Director
Michael T. Dan Director
Timothy A. Welsh Director

Board of Directors

Name (plus bio) Position
J. Barry Griswell Chairman, President, CEO
Larry D. Zimpleman Chairman, President and Chief Executive Officer
Barrie Christman Chairman of Principal Bank and Vice President of Retirement and Investor Services
Betsy J. Bernard Board of Directors
Daniel Gelatt Board of Directors
David J. Drury Board of Directors
Elizebeth E. Tallett Board of Directors
Federico F. Pena Board of Directors
Jocelyn Carter Board of Directors
Joycelyn Carter Miller Board of Directors
Richard L. Keyser Board of Directors
Organization Position Status
Principal Financial Services, Inc. Chairman, President & CEO Current
Principal International, Inc. Chairman, President & CEO Current
Principal Financial Advisors, Inc. Chairman, President & CEO Current
Preferred Product Network, Inc. Chairman, President & CEO Current
Principal Holding Company Chairman, President & CEO Current
Principal Enterprise Capital, LLC Chairman, President & CEO Current
Principal Financial Group, Inc. Chairman, President, CEO Current
The Financial Services Roundtable Principal Financial Group Current
Iowa Business Hall of Fame Current
American Council of Life Insurers chairman Current
Herman Miller, Inc. Board of Directors Current
Central College Board of Directors Current
Principal Financial Group, Inc. Board of Directors Current
The Financial Services Roundtable Board Member Current
Berry College Board of Directors Current
The Community Foundation Acting President Former
Principal Financial Group, Inc. Vice President Former
Principal Financial Group, Inc. Officer Former
United Way of America member Former

Larry D. Zimpleman is president and chief executive officer of the Principal Financial Group . He is responsible for overall management of the company. Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 1997 he served in various management and leadership positions at the officer level 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. He was named to his current role in 2008 and elected chairman of the board in 2009. Zimpleman currently serves as a member of the Board of Trustees for Drake University. He also serves on the board of the American Council of Life Insurers. He is Fellow of the Society of Actuaries and an Enrolled Actuary. Additionally, he is a member of: American Academy of Actuaries, Des Moines Actuaries' Club, Iowa Business Council, Business Roundtable and The Financial Services Roundtable.

Organization Position Status
Principal Financial Group, Inc. Chairman, President and Chief Executive Officer Current
Principal Services Trust Company President Current
Drake University Trustee Current
Life Corporation Director Current
Drake University Board of Directors Current
Principal Financial Group, Inc. Director Current
American Council of Life Insurers Board of Directors Current
American Academy of Actuaries Member Current
Principal Financial Group, Inc. Committee Member Current
American Academy of Actuaries President Former
Principal Financial Group, Inc. Chief Operating Officer Former
Investor Services, LLC Executive Vice President Former
Retirement Corp Executive Vice President Former
Principal Financial Group, Inc. Senior Vice President, Principal Life Former
Investor Services, LLC Senior Vice President Former
Retirement Corp Senior Vice President Former
Principal Financial Group, Inc. Head , International Asset Accumulation Business Former

Jocelyn Carter-Miller has been a Director of the Company since 2001 and of Principal Life since 1999. Ms. Carter-Miller is President of TechEd Ventures, a firm that develops and manages charter schools and community-based programs. Ms. Carter-Miller was Executive Vice President and Chief Marketing Officer of Office Depot, Inc. from February 2002 until March 2004. Prior to that time, Ms. Carter-Miller was Corporate Vice President and Chief Marketing Officer of Motorola, Inc. from February 1999 until February 2002. Ms. Carter-Miller is a director of two other public companies: Interpublic Group of Companies, Inc., a global marketing and communications company, and NetGear, a provider of networking products. She is also a board member of Smart School Charter Middle and High Schools.

Organization Position Status
Principal Financial Group, Inc. President, Teched Ventures Current
Principal Financial Group, Inc. Board of Directors Current
Principal Financial Group, Inc. Committee Member Current
Motorola, Inc. Chief Marketing Officer Former
Motorola, Inc. Corporate Vice President Former
Organization Position Status
Principal Financial Group, Inc. President, Ret. & Invst. Services Current

Ralph Eucher is CEO of Principal Funds and senior vice president- Human Resources of the Principal Financial Group. Eucher joined the company as an officer of commercial real estate in 1994. The company named him president and CEO of Principal Funds in 1999 and senior vice president of the Principal Financial Group in 2002 and senior vice president-Human Resources in 2008. Prior to his association with the company, Eucher served as president for General Growth Companies. An Iowa native, Eucher received his bachelor's and master's degrees from Iowa State University in Ames, Iowa. He received his doctorate of jurisprudence degree from the University of Iowa in Iowa City, Iowa. Eucher is a member of the Investment Company Institute's Board of Governors. He also is a member of the American, Minnesota and Iowa Bar Associations.

Organization Position Status
Principal Financial Group, Inc. President, Human Resources Current
Principal Financial Group, Inc. CEO of Principal Funds and Senior Vice President, Human Resources Former
Iowa State University Master's Degrees Former
Iowa State University Bachelor's Former

Array

Organization Position Status
Principal Financial Group, Inc. President, Investor Relations Current
Simpson College Board of Directors Current
American Academy of Actuaries Board of Directors Current
American Academy of Actuaries Member Current
Simpson College Member Current
Catalyst Health Solutions, Inc. Member Current
Principal Financial Group, Inc. Chief Information Officer Former
Principal Financial Group, Inc. Actuary Former
Catalyst Health Solutions, Inc. Board of Directors Former

Ellen Z. Lamale is senior vice president and chief risk officer of the Principal Financial Group. Lamale first worked for the company in 1976 as an actuarial student. She was elected an officer and named assistant actuary in 1980, associate actuary in 1986, actuary in 1987, senior actuary in 1989, second vice president and actuary in 1991, vice president and chief actuary in 1992, and to her present position in 1999. She is a Fellow of the Society of Actuaries and, a member of the American Academy of Actuaries.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President & Chief Risk Officer Current
American Academy of Actuaries Member Current
Principal Financial Group, Inc. Second Vice President Former
Principal Financial Group, Inc. Senior Actuary Former

Gary P. Scholten is senior vice president and chief information officer of the Principal Financial Group. Scholten joined the company in 1980 as an assistant planning analyst and was named planning analyst in 1981, systems analyst in 1984, senior systems analyst in 1987 and senior systems coordinator in 1988. He was elected an officer and named assistant director in 1989, director of information systems in 1992, second vice president - information services in 1994, vice president - retail information services in 1998, and to his present position in 2002. Scholten is a fellow of the Life Office Management Institute and chaired the LOMA Individual Product Systems Committee. In his first year as CIO, Scholten was named to Insurance & Technology Magazine's "2003 Elite 8" list. This award is given annually to eight CIO's from across the country who are identified as making significant, measurable contributions to their organizations through their abilities to lead, make smart decisions, and get results.

Organization Position Status
Principal Financial Group, Inc. CIO Current
Principal Financial Group, Inc. Senior Vice President Current
Principal Financial Group, Inc. Assistant Director Former
Principal Financial Group, Inc. Senior Systems Coordinator Former
Organization Position Status
Principal Financial Group, Inc. CIO, Principal Residential & Vice President Current
Organization Position Status
Principal Financial Group, Inc. Chief Investment Officer & Senior Vice President Current
Organization Position Status
Principal Financial Group, Inc. Chief Marketing Officer Current
Kum & Go Director Current
Kum & Go Member Current
Principal Financial Group, Inc. Senior Vice President Current
Principal Financial Group, Inc. Media Relations Manager Former
Principal Financial Group, Inc. Officer Former

Michael H. Gersie is executive vice president and chief financial officer of the Principal Financial Group. Gersie oversees accounting and controllership for the company, as well as treasury and cash management, corporate finance, actuarial, corporate tax, internal audit, capital market access, merger and acquisition activity, information technology and corporate services. Gersie joined the company in 1970 as an actuarial student. He was promoted to actuarial associate in 1974, was elected an officer and named assistant actuary in 1975, associate actuary in 1979 and actuary in 1984. He was then named second vice president and actuary in 1986, vice president in 1990, senior vice president and chief information officer in 1994, senior vice president and chief financial officer in 1996, and executive vice president and chief financial officer in 2000. Gersie is a Fellow of both the Society of Actuaries and the Casualty Actuarial Society, and a member of the American Academy of Actuaries and Enrolled Actuary. Gersie is a Chartered Life Underwriter (CLU) and Chartered Financial Consultant (ChFC).

Organization Position Status
Principal Financial Group, Inc. Cfo Current
Principal Financial Group, Inc. Executive Vice President Current
Casualty Actuarial Society Fellow Current
Principal Financial Group, Inc. Board of Directors Current
Principal Financial Group, Inc. Actuarial Associate Former

In 2004, Adams oversaw the introduction of PLANSPONSOR's Retirement Plan Adviser of the Year. In 2005 he launched the PLANSPONSOR Institute which oversees the PLANSPONSOR Retirement Professional designation, currently held by nearly 350 financial advisers. Adams joined PLANSPONSOR in 1999 as executive editor, and was promoted to his current position the following year. With more than 30 years experience in the retirement industry, Adams is a frequent and popular speaker at industry and trade conferences. He graduated magna cum laude with a BS in Finance from DePaul University in Chicago, Illinois. In 1988, he received his JD from DePaul University.

Organization Position Status
Principal Financial Group, Inc. Editor-In-Chief Current
Plansponsor Executive Editor Former
Wachovia Corporation Former
DePaul University Jd Former
Organization Position Status
Principal Financial Group, Inc. Executive Vice President and Chief Financial Officer, Telephone and Data Systems, Inc Current
Telephone & Data Systems, Inc. Director of U.S. Cellular and Executive Vice, President and Chief Financial Officer Current
Covance, Inc. Chair Current
Northwestern Memorial HealthCare Board of Directors Current
Tds, Inc. Director Current
Northwestern Memorial Foundation Director Current
United States Cellular Corporation Director Current
Cardiac Safety Director Current
TDS Telecom Board of Directors Current
Principal Financial Group, Inc. Director Current
Sternberger Monoclonals Inc.(Smi) Director Current
The Executives' Club of Chicago Member Current
The Chicago Network Member Current
Tds, Inc. Member Current
TDS Telecom Member Current
Tds, Inc. Chief Financial Officer Former
Tds, Inc. Executive Vice President, Finance Former
Corning Incorporated Senior Vice President Former
Compaq Computer Corporation Vice President Former
Compaq Computer Corporation Corporate Controller Former
Principal Financial Group, Inc. Principal Former
Corning Incorporated Treasurer Former
Telephone & Data Systems, Inc. Board of Directors Former
Covance, Inc. Director Former
University of Kentucky Bachelor of Science Former
TDS Telecommunications Corporation Member Former

Terry Lillis is senior vice president and chief financial officer with the Principal Financial Group . Lillis joined the company in 1982 as an actuarial student. He was promoted to actuarial associate in 1985 and senior actuarial associate in 1986. He was elected an officer and named assistant actuary in 1988, associate actuary in 1992, actuary in 1995 and second vice president, pension actuarial in 1999, and to chief financial officer, Retirement and Investor Services in 2000. He was named to his present position in 2008. Lillis is a member of the Iowa Actuaries Club, the American Academy of Actuaries, and the Society of Actuaries. He also serves on the board of the Peace Officers Retirement System, the Mercy Medical Center Financial Board Committee, and the Diocese of Des Moines and Catholic Charities Finance Council.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President and Chief Financial Officer Current
Iowa Actuaries Club Board of Directors Current
American Academy of Actuaries Board of Directors Current
Dollars for Scholars Board of Directors Current

Angelo is an executive vice president of Gallagher Benefits Services, Inc. (GBS), an employee benefit insurance broker and consultant helping employers of all sizes with their employee benefit plan needs. Arthur J. Gallagher & Co. is the parent company and is one of the largest insurance brokers in the U.S. and the world. A 37-year veteran of the employee benefit field, Angelo has been with GBS for 25 years. Nardi is currently responsible for managing national carrier relationships as well as managing industry niche efforts for GBS. He also serves on its Executive Committee, which sets strategic direction.

Organization Position Status
Principal Financial Group, Inc. Executive Vice President Current

Karen E. Shaff is executive vice president and general counsel, and is responsible for the company's Law and Government Relations departments. Shaff joined the company in 1982 as an attorney. She was elected an officer and named assistant counsel in 1983, associate counsel in 1986, counsel in 1990, vice president and associate general counsel in 1995, senior vice president and deputy general counsel in 1999, and senior vice president and general counsel later in 1999. Shaff was previously associated with the Des Moines law firm of Austin and Gaudineer. She was promoted to her current position in 2004. Shaff is a member of the American, Iowa, and Polk County Bar Associations, the ACLI and is president of the Association of Life Insurance Counsel. She is a member of the board at the Science Center of Iowa.

Organization Position Status
Principal Financial Group, Inc. Executive Vice President Current
Grinnell College Board of Directors Current
Science Center of Iowa Member, Board Current
Principal Financial Group, Inc. General Counsel Current
Northwestern University B.A. Former
Drake University Degree Former
Organization Position Status
International Insurance Society, Inc President, Principal International, Inc. Current
Principal International, Inc. President & Chief Executive Officer Current
Principal Financial Group, Inc. Executive. Vice President, International Current
US Coalition of Service Industries Chairman of the Board Current
International Insurance Society, Inc Board of Directors Current
Sara Lee Corporation Board of Directors Current
Principal International, Inc. Senior Vice President Former
Principal Financial Group, Inc. Senior Vice President, International Asset Accumulation Former
Principal International, Inc. Member Former
Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Health Current
Principal Financial Group, Inc. Chief Operating Officer Former
Principal Financial Group, Inc. Managing Director Former
Principal Financial Group, Inc. Director, Claims Former
Principal Financial Group, Inc. Senior Global Expansion Manager Former
Principal Financial Group, Inc. Head, Corporate Investment Services Former
Principal Financial Group, Inc. Director Former
Grand View College Board of Directors Former

David Shafer is senior vice president of the Health division of the Principal Financial Group. Shafer has more than 25 years experience in the health insurance industry, including nearly 20 years in strategic business development, network development and expense management. Prior to joining The Principal in 2008, Shafer served as president of pharmacy benefit management at Cigna. He has also held a variety of executive level positions at United HealthCare, including senior vice president of national operations, and executive vice president of United's AmeriChoice program. Shafer received his bachelor's degree from Marshall University, and has completed executive programs at Penn State University and the University of Michigan.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Health Current
Marshall University Bachelor's Degree Former

Deanna D. Strable is senior vice president - Individual Life and Specialty Benefits. Strable is responsible for the individual life and disability and group life, disability, dental and vision lines of business. Strable joined the company in 1990 as an actuarial assistant. She was appointed actuarial associate in 1992, senior actuarial associate in 1994 and named officer in 1995. In 1999, Strable was promoted to second vice president and vice president in 2002, then senior vice president in 2005. She is a Fellow of the Society of Actuaries.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Specialty Benefits Current
Principal Financial Group, Inc. Actuarial Associate Former
Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Specialty Benefits Current

Gregory J. Burrows is senior vice president, Retirement and Investor Services with the Principal Financial Group . Burrows joined the company in 1986 as a senior group and pension representative. In 1991 he was named regional director of group and pension sales and elected an officer. From 1994-1996, he was president and CEO of AHP, a former company 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. In 2007, he assumed the role of vice president and managing director, Retirement and Investor Services and was named senior vice president, Retirement and Investor Services in 2008.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Retirement and Investor Services Current
Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Human Resources Current
The Allstate Corporation Senior Vice President, Human Resources Current
Principal Corporation Ltd Vice President of Human Resources Current

Joyce Nixson Hoffman is senior vice president and corporate secretary of the Principal Financial Group. Hoffman joined the company in 1980 as an attorney in the Law Department. She was elected an officer and named assistant counsel in 1981, associate counsel in 1985, corporate secretary in 1988. She was named vice president and corporate secretary in 1991 and promoted to her current position in 2001. She was associated with the West Des Moines law firm of Stamatelos and Smith from 1977 to 1980. Hoffman has been a member of the Board of Governors of the American Red Cross since 2001, chair of the Governance Committee since June 2005 and is also a member of the Executive Committee. She is an advisory board member of the Ronald McDonald House Charities of Central Iowa, Inc. and a director of the Better Business Bureau of Greater Iowa. She is also a member of the American Society of Corporate Secretaries.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
Princor Financial Services Corporation Senior Vice President Current
The American National Red Cross Member, Board of Governors Current
Principal Financial Group, Inc. Corporate Secretary Former
Principal Financial Group, Inc. Board of Directors Current
Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
The House of Mercy, Inc Advisory Board Member Current
Catalyst Health Solutions, Inc. Member, Board of Directors Current
Pension Real Estate Association, Inc Member Current
Principal Financial Group, Inc. President, Real Estate Equity Group Former
Principal Financial Group, Inc. Assistant Director, Commercial Real Estate, Equities Former
Principal Financial Group, Inc. Senior Regional Equity Administrator Former

Margaret W. Skinner is senior vice president - Life and Health Segment. Skinner oversees the segment's proprietary, independent and group sales forces. Skinner has more than 30 years of experience in the financial services industry, working most recently as a senior vice president with the Lincoln Financial Group.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Life and Health Division Current
Lincoln Financial Group Senior Vice President Former
Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
Principal International, Inc. Board of Directors Current
The Chrysalis Foundation Board of Directors Current
Iowa State University Former
Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
Organization Position Status
Principal Financial Group, Inc. Senior Vice President Current
Limra International Inc. Special Consultant Current
University of Denver B.S. in Business Administration Former

Ronald L. Danilson is senior vice president - Retirement and Investor Services. Danilson joined the company in 1972 as a management trainee in pension issue and was later promoted to pension issue analyst. He became supervisor of pension issue in 1977 and senior pension revision underwriter in 1980. He was elected an officer and named assistant director of pension underwriting in 1982, associate director in 1988, and director of group operations in 1991. Danilson was named senior vice president of Delaware Charter Guarantee and Trust Company in 1994, executive vice president and chief operating officer in 1995 and to president and chief executive officer in 1996. He was promoted to vice president-pension in 1999 and named executive vice president and chief operating officer of Principal Mutual Funds in 2000. He was promoted to vice president - Retirement and Investor Services in 2001 and to his current position in 2004.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Retirement & Investor Services Current
Principal Financial Group, Inc. Chief Executive Officer Former
Principal Financial Group, Inc. President Former
Principal Financial Group, Inc. Chief Operating Officer, Principal Mutual Funds Former
Delaware Charter Guarantee & Trust Co. Senior Vice President Former
Principal Financial Group, Inc. Assistant Director, Pension Underwriting Former
Principal Financial Group, Inc. Management Trainee Former

Timothy J. Minard is senior vice president - Retirement Distribution. Minard is responsible for all retirement sales at the Principal Financial Group, including the growth and development of all distribution channels and partnerships for retirement services. Minard joined the company in 1986 as a sales representative in Detroit, Mich. Following success in sales, Minard was promoted to regional vice president in 1994. He was appointed to his current position in 2005.

Organization Position Status
Principal Financial Group, Inc. Senior Vice President, Retirement Distribution Current
Principal Financial Group, Inc. Sales Representative, Detroit Former
Organization Position Status
Principal Financial Group, Inc. Chairman of Principal Bank and Vice President of Retirement and Investor Services Current
Organization Position Status
Principal Financial Group, Inc. Regional Vice President Nonqualified Plans Current

Connie Rank-Smith is vice president of human resources at Jewelers Mutual Insurance, a property/casualty insurance company insuring jewelry and the jewelry industry across the United States and Canada. With more than 20 years of human resources management experience for companies ranging in size from 50 to 800 employees, Connie's expertise includes employee recruitment, discipline and termination, wage and salary development and administration, performance management, human resource policy development, and employee benefit plans. She has a B.B.A. in Business and Human Resources from Marian College and a MS in Management and Organizational Behavior from Silver Lake College. A certified Senior Professional in Human Resources, Connie is also a Certified Employee Benefit Specialist and Compensation Management Specialist. She has been awarded Fellowship standing in the International Society of Certified Employee Benefit Specialists. Jewelers Mutual was named one of The Principal 10 Best Companies for Employee Financial Security 2008.

Organization Position Status
Principal Financial Group, Inc. Vice President, Human Resources Current
Jewelers Mutual Insurance Company Vice President of Human Resources Current
Jewelers Mutual Insurance Company Human Resources Executive Former
Marian College B.B.A. In Business and Human Resources Former

Daniel Barry is an Regional Vice President Nonqualified Plans with The Principal Financial Group (The Principal ) and assists advisors and corporate sponsors with the design, implementation, financing, and administration of nonqualified deferred compensation plans. Daniel has more than 17 years of industry experience. He works with a wide range of leading advisors and their corporate clients to help them reward their key people and accumulate more dollars for retirement on a tax-advantaged basis. Daniel is a nationally recognized expert in the field of executive compensation. He has provided platform presentations at industry meetings as well as seminars for smaller sales and marketing organizations. Daniel has become well known for his personalized commitment to supporting advisors throughout the southeast. Participating in national industry organizations NAIFA and AALU, Daniel is actively involved in the legislative and regulatory process on issues surrounding nonqualified deferred compensation. Daniel, his wife Leslie, and three children live outside of Charlotte, NC. A graduate of The College of Charleston, Daniel enjoys fishing, sailing and golf.

Organization Position Status
Principal Financial Group, Inc. Regional Vice President Nonqualified Plans Current
College of Charleston Former
Organization Position Status
Princor Financial Services Corporation Vice President, Production & Distr Current
Principal Financial Group, Inc. Vice President, Compliance Current
Organization Position Status
Principal Financial Group, Inc. Vice President Current
Organization Position Status
Principal Financial Group, Inc. Vice President, Sales Current
Organization Position Status
Principal Financial Group, Inc. Vice President, Business Development Current

John McClain is vice president of human resources for the NORCAL Group which is a leading provider of medical professional liability insurance and continuing medical education to more than 17,000 physicians, medical groups and hospitals in California, Pennsylvania, Rhode Island, Delaware and Alaska. With more than 20 years of human resources experience, John is responsible for human resources initiatives including staff development, staffing, compensation, employee benefits and employee programs for the Group. NORCAL Mutual Insurance Co. was named one of The Principal 10 Best Companies for Employee Financial Security 2008.

Organization Position Status
Principal Financial Group, Inc. Vice President, Human Resources Current
Organization Position Status
Principal Financial Group, Inc. Vice President, Executive Operations Current

Mike joined The Principal Financial Group (The Principal ) in 2004. He came to the Principal from BISYS where he was Vice President/Business Development in their Insurance Services Division. Currently, Mike is a Regional Vice President-Life Brokerage (RVP-LB) and is the national wholesaler responsible for business insurance solutions for the Crump Insurance Services account. His expertise includes providing tailored solutions that help producers find creative and flexible planning solutions for the specific needs of business owners, their employees and key employees. He also has experience in developing sales and support infrastructure and training for independent wholesale networks. Mike has a BS in Economics from the University of Wisconsin and holds his NASD Series 7, 26 and 63 registrations.

Organization Position Status
Principal Financial Group, Inc. Advanced Planning Regional Vice President Current

Patrick Kane joined The Principal in 2006 in the Northeastern territory. Patrick comes to us with over 14 years of experience as a financial consultant and wholesaler. For the last four years, he served as regional Life Wholesaler with Pacific Life and Hartford Life. He has his Series 7 and 63 licenses.

Organization Position Status
Principal Financial Group, Inc. Regional Vice President Life Brokerage Current
Organization Position Status
Principal Financial Group, Inc. Vice President Current

R. Lucia Riddle is Vice President of Government Relations for the Principal Financial Group. Ms. Riddle represents the company and its various business units and subsidiaries to legislative/regulatory bodies at federal and state levels. She also oversees the Company^s public affairs functions including grassroots and public policy. She serves on the Board of the Alan Guttmacher Institute (New York), the Planned Parenthood Federation Action Fund (New York), the Howard University Center for Insurance Education and the White House Project. She is also a member of the Executive Leadership Council.

Organization Position Status
Principal Financial Group, Inc. Vice President of Government Relations Current
Women In Community Service, Inc. Board of Directors Current
Organization Position Status
Principal Financial Group, Inc. Vice President Current

Rick is a financial services professional with over 10 years of senior sales management experience and the proven ability to meet sales objectives. Rick's most recent position as Regional Director with Hancock Financial provided him opportunity to work in all areas of the industry. Rick has a solid track record of recognizing and advising producers and their clients on insurance issues and how it relates to their professional goals and objectives. Rick is a member of the American College Society of Financial Professionals, has his LUTCF designation and holds his Series 6 and 63 licenses.

Organization Position Status
Principal Financial Group, Inc. Regional Vice President Life Brokerage Current
Organization Position Status
Principal Financial Group, Inc. Vice President of Sales Retirement Services Current
World Wide Children's Foundation of New York, Inc. Ris Distribution, Principal Financial Group Current

Sudhin Padhye is the Vice President - operations at Principal PNB Asset Management Company Pvt. Ltd. Sudhin has a rich experience of over 16 years directly overseeing and establishing operations. Prior to joining Principal AMC, Sudhin has worked with Watson Wyatt where in his capacity as a 'Business Service Manager', he was heading the operations on an all-India basis. In his previous assignments he worked with BNP Paribas and Peregrine Capital as Head-Operations for their equity broking business. Prior to that, he worked in the Finance and Accounts departments of Apple Industries and Goodlass Nerolac Paints in managerial capacity. He is a qualified A.C.A., C.W.A. and is also a Certified Systems Auditor (CISA).

Organization Position Status
Principal Financial Group, Inc. Vice President, Operations at Principal Pnb Asset Management Company Pvt Current
BNP Paribas SA Former

Timothy Sellers joined Principal Life Insurance Company on April 1, 2006 as an Advanced Planning Regional Vice President (AP RVP) in the Bethesda, Md., Individual Wholesale Office covering Delaware, Maryland and Washington, D.C. Tim has more than 24 years of experience in financial services. He most recently served as Senior Life Consultant for the Mid-Atlantic Region of Nationwide Brokerage Life Insurance in Perry Hall, Md., where he was one of the company's top-producing life wholesalers. Before that, he was a financial sales consultant for American Phoenix Corporation in Baltimore, Md. He has his National Association of Securities Dealers Series 6 and 63 licenses. He attended college at DePauw University in Greencastle, Ind.

Organization Position Status
Principal Financial Group, Inc. Advanced Planning Regional Vice President Current
Region Senior Life Consultant Former

Todd brings more than 16 years of experience in the insurance industry, including his most recent position as senior sales representative with Hartford Life. Todd graduated from Stephen F. Austin University with a BBA in Management. A Princor Registered Representative, Todd focuses primarily in the Executive Benefits area with emphasis on Nonqualified Deferred Compensation plans. Working closely with The Principal Retirement Services offices in Texas and Louisiana, Todd assists brokers and their clients, both individual and corporate, in successfully planning for their business and retirement needs. Todd holds his NASD Series 6, 26 and 63 licenses. He is married to Lynne and has two children, Madeleine and Luke.

Organization Position Status
Principal Financial Group, Inc. Advanced Planning Regional Vice President Current
Stephen F. Austin State University Bba In Management Former

Torey joined the Principal Financial Group in July of 2001 as a relationship manager, Business Market Administration (BMA). In BMA, he worked with producers on the administration of their nonqualified benefit and business continuation cases. Later, he moved to Life Marketing to work on the National Sales Desk as an internal life wholesaler and was promoted into the role of Regional Vice President. Torey oversees the marketing of Principal Life Insurance Company's products and solutions for the Western region of the U.S. Before joining the company, he spent 7 years as vice-president of investments for Robert W. Baird where he managed investment portfolios for more than 300 customers in the Des Moines market. A native of Canton, S.D., Torey earned a bachelor's degree in accounting and a master's degree in business administration from Drake University in Des Moines. He has also completed Level 1 of his Chartered Financial Analyst designation. Torey and his wife Lisa live in Clive, Iowa with their two boys: Taylor, 14 and Gabriel, 3. Torey enjoys golf, fishing, hunting and Iowa Hawkeye Athletics.

Organization Position Status
Principal Financial Group, Inc. Regional Vice President, Life Insurance Wholesaler, Individual Distribution Current
Drake University Master's Degree In Business Administration Former
Drake University Bachelor's Degree In Accounting Former
Organization Position Status
Principal Financial Group, Inc. Life Regional Vice President Current
Organization Position Status
Nceo Executive Director Current
Principal Financial Group, Inc. Executive Director & Founder Current
National Center for Employee Ownership Executive Director Current
National Center for Employee Ownership Founder Current
Great Place Board of Directors Current
Nceo Founder Former
Organization Position Status
Principal Financial Group, Inc. Managing Director, Indiana Business Center Current
Organization Position Status
Principal Financial Group, Inc. Managing Director Current
Organization Position Status
Principal Financial Group, Inc. Managing Director Current
Organization Position Status
Principal Financial Group, Inc. Development Director Current
Organization Position Status
Principal Financial Group, Inc. Director, Marketing Current
Organization Position Status
Principal Financial Group, Inc. Recruiting Director Current
Organization Position Status
Principal Financial Group, Inc. Assistant Director, Media Relations Current
Principal Financial Group, Inc. Assistant Director, Media Relations Former
Organization Position Status
Principal Financial Group, Inc. Recruiting Director Current
Organization Position Status
Principal Financial Group, Inc. Product Director Current
Organization Position Status
Principal Financial Group, Inc. Director, Marketing Current
Principal Global Investors Trust Marketing Director, Real Estate Former

Christopher J. Monroe is manager of The Principal Financial Group. He is responsible for recruiting, training, and developing new agents and registered representatives for the central Illinois agency. After successfully working in his parent's business, he joined Principal Financial Group at age 24. Within two years he was promoted to his present position. He is a member of the Peoria Life Underwriters Association and the National Life Underwriters Association. Monroe is a 1997 Peoria Area Chamber of Commerce Community Leadership School graduate, and an Easter Seals Rising Star volunteer. He serves on the boards of the Center for Prevention of Abuse and the Peoria Art Guild. He's chairman of the Fine Art Fair and East Bluff Neighborhood Association. Monroe is a basketball coach at St. Bernard's and St. Philomena's grade schools and volunteers for the Easter Seals Telethon, TEC/Cursillo, and Christian Businessman's Association.

Organization Position Status
Principal Financial Group, Inc. Manager Current
Peoriamagazines.Com Manager of the Principal Financial Group Current
Organization Position Status
Principal Financial Group, Inc. Manager, Marketing Current

Mr. Pankaj Tibrewal has over three years experience in debt market. In his first professional assignment with Principal Pnb Asset Management Company Private Limited he worked as Credit Analyst. Presently, he continues to work with M/s. Principal Pnb Asset Management Company Private Limited as Senior Investment Analyst.

Organization Position Status
Principal Financial Group, Inc. Fund Manager Current

Steve Hoskins was elected Vice President Agency Operations for Pharmacists Mutual Insurance Company. Steve is a native of Fort Madison, Iowa, and a graduate of Simpson College where he earned his Bachelor of Arts degree. Prior to joining Pharmacists Mutual, Steve's experience within the insurance industry includes; Office Manager with Connecticut Mutual Life; Marketing and Competition Consultant with Principal Financial Group; Director of Product Planning with Minnesota Mutual; Market and Product Planning Director with Equitable Life of Iowa; and Senior Director of Insurance Product Sales with Locust Street Securities, Inc. Steve joined the Pharmacists Mutual Companies in July 2003 as Team Leader of the Life and Agency Team, and Vice President-Operations of the Pharmacists Life Insurance Company, a subsidiary of Pharmacists Mutual. Steve and his wife, Sandra, reside in Algona with their three children.

Organization Position Status
Pharmacists Mutual Insurance Co., Inc. Vice President Current
Principal Financial Group, Inc. Office Manager Current
The Pharmacists Life Insurance Company Inc. Vice President, Operations Former
Simpson College Bachelor of Arts Degree. Former

Greg Elming is senior vice president and controller of the Principal Financial Group, Inc. In this role, Elming is responsible for directing the organization's accounting function and providing oversight on the preparation of financial statements and management reports. Elming joined the company in 1982 as a staff accountant. He was named administrator-corporate accounting and taxes in 1985 and manager in 1986. He was elected an officer and named assistant controller in 1988, and director-financial reporting in 1995. He was named a second vice president in 1998 and vice president and controller in 2000. An Iowa native, Elming received his bachelor's degree from the University of Iowa. He is a Fellow of Life Management Institute (FLMI).

Organization Position Status
Principal Financial Group, Inc. Senior Vice President and Controller Current
Organization Position Status
Principal Financial Group, Inc. Financial Controller Current
Ankeny Community Schools Board of Directors Current
Young Women's Resource Center Board Member Former
Organization Position Status
Astd-Lincoln Principal Financial Goup Current
Principal Financial Group, Inc. Senior Training Analyst Current
Astd-Lincoln Board of Directors Current
Organization Position Status
St. John's University Adjunct Professor, Finance Current
Principal Financial Group, Inc. Principal Current
Principal Financial Group, Inc. Chair Current
ING Barings Chief Executive Officer Former
New York University Former
Cambridge University Former
Organization Position Status
Donovan & Thomas Partner Current
Principal Financial Group, Inc. Financial Representative Current
Indiana CPA Society Board of Directors Current
Donovan & Thomas Registered Nurse Former
First National Bank of Danville Board of Directors Former
Vincennes University Associate of Science Degree Former
Kelley School of Business Bloomington Former
Indiana University Former
Organization Position Status
Principal Financial Group, Inc. Actuary Current
Perfect 10 Actuarial Seminars Current
Doane College B.S. In Mathematics Former
Organization Position Status
Principal Financial Group, Inc. Attorney Current
West Des Moines Human Services Current
Creighton University Bachelor's Degree Former
Organization Position Status
Polymer Laboratories, Ltd. Principal, Hunter Partners, Llc Current
Principal Financial Group, Inc. Principal, Hunter Partners, Llc Current
IntegraMed America, Inc. Chairperson Current
Varian, Inc. Director Current
Principal Financial Group, Inc. Chair, Audit Committee Former
Polymer Laboratories, Ltd. Board of Directors Current
Principal Financial Group, Inc. Director Current
Biotechnology Council of New Jersey, Inc Director Current
Coventry Health Care, Inc. Board of Directors Current
Immunotope, Inc Director Current
Principal Financial Group, Inc. Committee Member Current
Varian, Inc. Committee Member Current
Varian Semiconductor Equipment Associates, Inc. Principal Former
Varian, Inc. Principal Former
Immunicon Corporation Principal Former
University of Nottingham B.Sc. Former
Varian Semiconductor Equipment Associates, Inc. Director Current

Jack Fries is the Vice President for the Urbandale Chamber of Commerce. He has nine years of experience in the financial services industry and 20 years experience in accounting, finance and business strategic planning. He is the Advanced Planning Regional Vice President for Iowa and Nebraska with Principal Financial Group and a registered representative of Princor, In addition, Fries participates in the Partnership, DMAIFA, Mid-Iowa Estate Planners Association and is a Board Member for the Urbandale Chamber of Commerce and the Rotary Club of Des Moines AM. He has his MBA from the University of South Dakota. Jack is married to Marsha who is the elementary vocal music teacher at Van Meter Community School District; together they have two sons, Adam attends University of Iowa; Seth attends Urbandale High School.

Organization Position Status
Urbandale Chamber of Commerce Vice President Current
Principal Financial Group, Inc. Registered Representative Current
Rotary Club of Des Moines, A.M Board Member Current
Urbandale Chamber of Commerce Principal Financial Group Current
University of South Dakota MBA Former
Urbandale Chamber of Commerce Member Former
Organization Position Status
Principal Financial Group, Inc. Senior Financial Accounting Leader Current
Gift of Love International Adoptions, Inc Treasurer Current
China Center of Adoption Treasurer Current
Drake University Masters of Business Administration Former

John D. Quinlan boasts a 20-year career in the financial industry, currently serving as a Financial Advisor for the Principal Financial Group. Prior to his employment with Principal Financial Group, Quinlan served as Assistant Vice President of Elders Financial Group, Vice President and Partner of Prestige Metals Trading Co., President, Broker, Trader and Owner of Chelsea Futures Trading Company, Vice President of Sales for Bejar Investment LTD in Hong Kong, and President of Belmont Management LTD in Hong Kong. Quinlan, before beginning his career in finance, was a teacher for six years. Quinlan has a long-standing commitment to DEBORAH, serving many years as a volunteer and Life Member of the DEBORAH League of Staten Island (NY/NE). Quinlan received his Master of Education from Wagner College, Staten Island, NY, and his Bachelor of Science from Springfield College, Springfield, MA. He also volunteers as a Board Member for the Knights of Columbus, Columbus Club, and as a Board Member of the Richmond County (NY) chapter of the Ancient Order of Hibernians.

Organization Position Status
Principal Financial Group, Inc. Financial Advisor Current
Columbus Club Board of Directors Former
Wagner College Master of Education Former
Springfield College Bachelor of Science Former
Organization Position Status
Mexican Cultural Center of Northern California President Current
Principal Financial Group, Inc. Financial Advisor Current
California State Independent Living Council Chair Current
Mexican Cultural Center of Northern California Board of Directors Current

Ms. Wilkins advises LCT on trends and developments within the Human Resource industry, and helps tailor LCT products to aptly service the HR needs of its clients. Ms. Wilkins is currently a Leader of HR employee development at The Principal Financial Group in Des Moines, Iowa. Prior to joining Principal, Mary helped manage employee training at the world famous Dale Carnegie School as well as American Home Shield. Ms. Wilkins received her B.A. in Communications from the University of Iowa, and holds numerous training credentials and certifications from the Dale Carnegie School and other institutions.

Organization Position Status
Principal Financial Group, Inc. Leader Current
Legal Compliance Training, Inc. Board of Directors Current
Organization Position Status
Lincoln Area Chamber of Commerce Comprehensive Financial Planner for Principal Financial Group Current
Principal Financial Group, Inc. Financial Planner Current
Organization Position Status
Des Moines Women's Group President Current
Wdcdsm President Current
Principal Financial Group, Inc. Senior It Analyst Current
Des Moines Women's Group Board of Directors Current
Wdcdsm Board of Directors Current
University of Phoenix Master of Science In Computer Information Systems Former
Simpson College B.S. In Computer Information Systems Former
Organization Position Status
Principal Financial Group, Inc. Diversity Consultant Current
Dkosopedia Current
The Regents Board of Directors Former
Drake University Degree Former

Ryan Donovan joined Donovan & Thomas, P.C. in 1998. He specializes in insurance products and investments as a career agent of Principal Life Insurance Company. His knowledge of insurance products enables him to work closely with small business owners on business continuation planning, deferred compensation and key employee insurance. As a Princor Investment Advisor and Registered Representative, Ryan helps to establish retirement plans for small businesses and helps individuals seeking tax-deferred growth. Ryan is a Certified Financial Planner (CFP). He graduated from Michigan State University in 1994 and lives with his wife, Michelle, and their three children, Jessica, Robby and Liam on the northwest side of Indianapolis.

Organization Position Status
Principal Financial Group, Inc. Agent Current
Donovan & Thomas Current
Michigan State University Former

Sandeep Bagla is Head Fixed Income at Principal PNB AMC from September 2005 onwards. He joined Principal in November 2004. Prior to joining Principal, Sandeep was with Reliance Mutual Fund, where he managed debt schemes (Income, Short Term Plan, Government Securities Fund and Monthly Income Plan). He has more than 10 years experience in investment management, working in treasuries of companies like ABN AMRO Securities, ICICI Limited and ITC Classic Finance Limited.

Organization Position Status
Principal Financial Group, Inc. Head Current
ABN AMRO Securities Current

Shyam Bhat has joined Principal PNB Asset Management Company Private Ltd as AVP (Investments) in May 2004, and is managing Principal Growth Fund, Principal Focussed Advantage Fund, Principal Dividend Yield Fund & Principal Infrastructure & Services Industries Fund. Prior to joining Principal, Shyam was with Tata Mutual Fund for approximately 10 years (since its inception), where he was a member of the fund management team, managing equity and balanced funds. Shyam is an electrical engineer from VJTI, and has done his Masters in Management Studies from NMIMS, Mumbai.

Organization Position Status
Principal Financial Group, Inc. Principal Current

Ms. Sonali Bendke has over 5 years experience in the area of compliance and corporate secretarial. In her previous assignmentshe worked with Reliance Capital Asset Management Ltd. in compliance function and was responsible for handling SEBI Regulations, various corporate laws and corporate secretarial function.

Organization Position Status
Principal Financial Group, Inc. Company Secretary Current

Teresa joined our staff in the fall of 1998. She graduated from St. Cloud State with a degree in Marketing. She has business experience as a retail manager, and volunteers at the Sartell Schools and here at Celebration. Her husband, Greg, is a representative for the Principal Financial Group. The Ahrendt's have three children.

Organization Position Status
Celebration Lutheran Church Director of Volunteer Ministries Current
Principal Financial Group, Inc. Representative Current

Therese M. Vaughan has been a director of the Company and Principal Life since November of 2005. Dr. Vaughan is the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University. From 1994-2004, Dr. Vaughan served as the Iowa Insurance Commissioner, and was President of the National Association of Insurance Commissioners in 2002. Dr. Vaughan represents the American Academy of Actuaries at the Solvency and Regulation Committees of the International Actuarial Association, is a director of the Insurance Marketplace Standards Association and the National Council on Compensation Insurance. She is a member of the Board of Trustees of the American Institute for Chartered Property Casualty Underwriters and a director of Endurance Specialty Holdings Ltd., a public company that is a global provider of specialty lines property and casualty insurance and reinsurance. Dr. Vaughan is a member of the Audit Committee of the Board.

Organization Position Status
Principal Financial Group, Inc. Principal Current
Drake University Robb B. Kelley Distinguished Professor, Insurance and Actuarial Science Current
International Actuarial Association Current
Principal Financial Group, Inc. Director Current
Endurance Specialty Holdings Ltd. Director Current
Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
Principal Financial Group, Inc. Chair Current
Zimmer Holdings, Inc. Board of Director Current
URS Corporation Board of Directors Current
BearingPoint, Inc. Board of Directors Current
Principal Financial Group, Inc. Committee Member Current
AT&T Inc. Chief Executive Officer Former
BearingPoint, Inc. President Former
AT&T Inc. President Former
US WEST, Inc. Executive Vice President, Retail Markets Former
Qwest Communications International Inc. Executive Vice President, National Mass Markets Former
United Technologies Corporation Board of Directors Former
United Technologies Corporation Director Former
Organization Position Status
Principal Financial Group, Inc. Director Current
Pioneer Hi-Bred International, Inc. Chief Executive Officer Former
Pioneer Hi-Bred International, Inc. President Former

C. Daniel Gelatt has been a Director of the Company since 2001 and of Principal Life since 1988. Dr. Gelatt has been President of NMT Corporation, a computer software and microfilm service business, since 1986. He is also a director and President of these other Gelatt privately-owned companies: Elmwood Corporation, The Gelatt Corporation, Ginkgo, LLC and Gelatt Information Machines Corp. He is also a director of Advanced Marketing Concepts, Ltd., nPoint, Inc. and Board chairman of Trust Point, Inc. He is a member of the LaCrosse Public Library Board, IEEE and the Association for Computing Machinery.

Organization Position Status
Nmt Corporation President Current
Association for Computing Machinery Board of Directors Current
Ieee Board of Directors Current
La Crosse Public Library Board of Directors Current
Principal Financial Group, Inc. Board of Directors Current
Principal Financial Group, Inc. Committee Member Current

David J. Drury has been a director of the Company since 2001, and of Principal Life since 1993. Prior to January 2002, he was Chairman of the Company since April 2001, and Chairman of Principal Life since January 2000. Prior to 2000, Mr. Drury was Chairman and Chief Executive Officer of Principal Life from 1995 to 1999.

Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
American Academy of Actuaries Member Current
Principal Financial Group, Inc. Chairman Former
Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
Organization Position Status
Principal Financial Group, Inc. Director Current

Gary Costley, Ph.D., 64, is a co-founder and managing director of C&G Capital and Management, LLC, which provides capital and management to health, medical and nutritional products and services companies. He was Chairman and Chief Executive Officer of International Multifoods Corporation, a manufacturer and marketer of branded consumer food and food service products from November 2001 until June 2004, and Chairman, President and Chief Executive Officer from 1997 through 2001. He is also a member of the Board of Directors of The Principal Financial Group, Pharmacopeia Drug Discovery, Inc., Accelrys, Inc., Tiffany & Co., and Prestige Brand Holdings, Inc. Dr. Costley has been a member of the Covance Board since September 2007.

Organization Position Status
Cg Capital LLC Managing Director Current
Cg Capital LLC Managing Partner Current
Principal Financial Group, Inc. Director Current
Cardiac Safety Director Current
Pharmacopeia Drug Discovery Inc. Director Current
Tiffany & Co. Director Current
Centralized Ecg Director Current
Covance, Inc. Director Current
Sternberger Monoclonals Inc.(Smi) Director Current
Accelrys, Inc. Director Current
Prestige Brands, Inc. Board of Directors Current
Tiffany & Co. Committee Member Current
Principal Financial Group, Inc. Committee Member Current
International Multifoods Corporation Chief Executive Officer Former
International Multifoods Corporation President Former
Kellogg Company Executive Vice President Former
International Multifoods Corporation Chairman Former
Oregon State University Ph.D. In Nutrition Former
Oregon State University M.S. Former
Oregon State University B.S. In Animal Science Former
Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
Organization Position Status
Principal Financial Group, Inc. Board of Directors Current
Organization Position Status
The Brink's Company President Current
The Brink's Company Chairman Current
Principal Financial Group, Inc. Director Current
Principal Financial Group, Inc. Committee Member Current
The Brink's Company Executive Committee Member Current
The Brink's Company Chief Executive Officer Former
The Brink's Company Executive Vice President Former
The Brink's Company Director Former

Richard L. Keyser has been a Director of the Company and Principal Life since 2002. Mr. Keyser has served as Chairman and Chief Executive Officer of W.W. Grainger, Inc., an industrial distributor of products used by businesses to maintain, repair and operate their facilities, since 1997. Mr. Keyser is a director of two other public companies: W. W. Grainger, Inc. and Rohm and Haas Company, a global specialty materials company. He is a director of Evanston Northwestern Healthcare and the National Merit Scholarship Foundation. He is a trustee for the John G. Shedd Aquarium and the Field Museum of Natural History. He is an Advisor for the Kellogg School of Management, Northwestern University, and the Division of the Physical Sciences, University of Chicago.

Organization Position Status
Kellogg School of Management at Northwestern University Advisor Current
W.W. Grainger, Inc. Chairman Emeritus Current
John G. Shedd Aquarium Board of Directors Current
Evanston Northwestern Healthcare Director Current
National Merit Scholarship Corporation Director Current
Zebra Technologies Corporation Board of Directors Current
Principal Financial Group, Inc. Board of Directors Current
Rohm & Haas Company Board of Directors Current
W.W. Grainger, Inc. Chief Executive Officer Former
Nl Industries, Inc. President Former
Rohm & Haas Company Director of the Principal Financial Group Former
John G. Shedd Aquarium trustee Former
Rohm Co., Ltd. Director Former
W.W. Grainger, Inc. Board of Directors Former

Tim Welsh is a director in the Minneapolis office of McKinsey & Company, a management consulting firm advising leading companies on issues of strategy, organization, technology and operations. He leads the firm's Midwest Financial Services practice. Welsh also co-leads the North American Life and Wealth Management Practice. Since joining McKinsey & Company 18 years ago, Welsh has served client throughout the financial services industry. In particular, he has served some of the nation's leading life insurers, property & casualty insurers, and banks on issues of strategy, organization and operations. In addition, Welsh has been a leader in the Minneapolis/St. Paul community; including helping the Minneapolis mayor and city council transform the economic development activities in the city. Mr. Welsh holds an M.B.A., with distinction, from Harvard Business School, and a B.A., magna cum laude, in social studies, from Harvard University.

Organization Position Status
Principal Financial Group, Inc. Director Current

Executive News

  • The Principal Financial Group Named Among Best Places to Work by Computerworld

    Business Wire - 6/16/09 - View Story

  • Hartford falls after accepting TARP, selling stock

    Marketwatch - 6/12/09 - View Story

  • Principal Financial says no to TARP money

    Marketwatch - 6/11/09 - View Story

  • Principal Financial Declines Investment From U.S. Government

    CNN Money - 6/11/09 - View Story

  • UPDATE 1-Principal Financial declines funds under CPP

    Reuters - 6/11/09 - View Story

  • Principal Financial Group Declines Funding from U.S. Treasury Capital Purchase Program

    Business Wire - 6/11/09 - View Story

  • Prudential Financial Declines Federal Bailout; Offers $1.25 Billion in Common Stock

    TradingMarkets - 6/01/09 - View Story

  • Press Invited to Attend News Conference with Michael J. Fox

    Reuters - 5/26/09 - View Story

  • Press Invited to Attend News Conference with Michael J. Fox

    Forbes.com - 5/26/09 - View Story

  • Press Invited to Attend News Conference with Michael J. Fox

    Business Wire - 5/26/09 - View Story

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     PFG $28.77 +9.77 (51.42% )
Average Volume 7,477,700
Shares Outstanding 259.99M
Market Cap 7.5B
Year High 54.28
Year Low 5.41
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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