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The Principal Announces Senior Management Promotions

Principal Financial Group ® today announced a number of senior management promotions and changes effective immediately:
  • Terry Lillis is promoted to executive vice president and chief financial officer.
  • Gary Scholten is promoted to executive vice president and chief information officer.
  • Beth Raymond is promoted to senior vice president and chief human resources officer.
  • Mary O’Keefe, senior vice president and chief marketing officer, will retire at the end of June 2014 after more than 24 years with The Principal ®.

Larry D. Zimpleman, chairman, president and CEO, commented, “These promotions reflect The Principal’s strength as a leading global investment manager. As part of our succession planning process, these executives will play a heightened role collaborating between The Principal’s investment management businesses and the accumulation and insurance businesses.”

Regarding O’Keefe’s retirement, Zimpleman said, “Mary’s hard work and dedication has had a major positive impact on The Principal and our communities. We thank Mary for her years of service and wish her the best.” The Principal will conduct an internal/external search for the chief marketing officer position.

In addition to these senior management promotions, several Principal Global Investors executives were named to new roles that reflect the growth and magnitude of the organization’s global asset management business:
  • David Blake is named senior executive director & head of Principal Global Fixed Income.
  • Pat Halter is named senior executive director – Principal Real Estate Investors.
  • Barb McKenzie is named senior executive director & chief operating officer – boutique operations.
  • Ellen Shumway is named senior executive director – strategy & boutique operations.

According to Jim McCaughan, president of Principal Global Investors, these promotions recognize key leaders within The Principal’s asset management operations. “Dave, Barb, Pat and Ellen each have played key roles in the evolution of the Principal Financial Group to a leading global investment manager. We rely on their critical leadership as we focus on the execution of our growing global boutique operations.”

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