Mike Abbott

Mike Abbott, executive chairman and former CEO of Des Moines-based insurance holding company American Enterprise Group Inc., will retire early next year after a 45-year career with the company. He will continue to serve on the board of directors. Tom Swank took over the CEO job earlier this year. Abbott joined American Enterprise, then American Republic Insurance Co., in 1970 as an actuary. He was elected president and chief financial officer in 1988. In 1996, Abbott was elected chairman of the board and CEO. He held these positions until April 2015, when he transitioned to the role of executive chairman. “For the last 28 years, Mike successfully led American Enterprise with a deep commitment to doing what is right for our customers, our business and the employees,” Swank said in a release.