Investor Relations head transitioning to CFO of Principal International

Principal Financial Group^® today announced senior management promotions within corporate finance and U.S. Insurance Solutions (USIS).

• Joel Pitz is named senior vice president and controller for Principal^®, effective November 15. In this new role, he’ll have leadership responsibilities for corporate accounting, global sourcing, and financial reporting. Pitz previously was vice president and chief financial officer for Principal International and has 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 Strable, chief financial officer for Principal, and succeeds Angie Sanders, who will retire after 32 years with Principal.

• Nate Schelhaas is named senior vice president, in charge of protection solutions for USIS, effective October 15. In his new role, Schelhaas will be responsible for the company’s life insurance and non-qualified deferred compensation lines of business, in addition to leading product development for the business owner segment. He previously served as vice president and actuary in the individual life division of Principal focusing on product development and strategy. Schelhaas has been with the company for 24 years holding various roles including chief financial officer for the life insurance business. Schelhaas will report to Amy Friedrich, president of USIS, and succeeds Greg Linde, who will retire after nearly 30 years with Principal.

“Joel and Nate have built their careers with Principal, progressing to serve in increasingly important roles within the company,” said Dan Houston, chairman, president, and CEO of Principal. “I am confident in their leadership, experience, and strategic thinking to help serve our customers and guide our organization into the future.”

After Pitz transitions to his new role, John Egan, vice president and head of Investor Relations, will assume the role of vice president and chief financial officer for Principal International. Egan will report to Pat Halter, president of global asset management for Principal, and continue to lead investor relations until a successor has been named.

About Principal Financial Group^®

Principal 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 more than 140 years, we’re helping more than 45.5 million customers^[2] plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal^® is proud to be recognized as one of the World’s Most Ethical Companies^[3], a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work 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 & Investments, 2020.

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