Fidelity & Guaranty Life announced today that Lee Launer Jr., the company’s CEO and a member of its board of directors, has elected to retire effective April 30.

The Des Moines-based insurance holding company also announced that Christopher Littlefield, currently FGL’s president, will become CEO upon Launer’s retirement. The company said it expects to enter into an exclusive advisory services agreement with Launer to provide for a seamless transition in leadership through the end of the 2015 calendar year, in accordance with its management succession plan.

Fidelity & Guaranty moved its corporate headquarters from Baltimore to Des Moines in November 2013 and a month later became a publicly traded stock company. Through its subsidiaries, the company offers fixed annuity and life insurance products distributed by independent agents.

“I am extremely proud of what we accomplished during my tenure,” Launer said in a release. “My passion for leading this great business is equaled only by my determination to pursue certain long-delayed interests, including several important charitable endeavors. Having worked with Chris these past few months, I have full confidence that the company will continue to successfully execute the strategic road map we set a little over a year ago during FGL’s IPO.”

Littlefield, who joined FGL as president last year, was formerly the president and CEO of Aviva USA Corp.