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Principal Financial Chairman to Retire



By AP
25 March 2008 @ 11:41 am EST

NEW YORK - Principal Financial Group Inc.'s retiring chief executive, J. Barry Griswell, will also step down as chairman at the end of the year, according to a Securities and Exchange Commission filing on Tuesday.

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Last month, the asset manager said Griswell will be replaced as CEO on May 1 by President and Chief Operating Officer Larry D. Zimpleman.

According to the SEC filing, Griswell will serve as executive chairman from May 1 until his retirement on Dec. 31.

Principal Financial shares gained 19 cents to $56.46 in midday trading.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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