Principal Financial Group Inc. announced today that Chairman Larry Zimpleman will retire from the company on Jan. 4. He will continue to serve on the board of directors as non-executive chairman.

“In his 44 years at The Principal, Larry drove a number of significant advancements for the organization,” said Dan Houston, Principal’s president and CEO. “He was instrumental in developing our international pension and long-term savings strategy, and in exporting our expertise to high potential markets around the world.

Principal announced in August that Houston would succeed Zimpleman as president and CEO as part of the company’s succession plan.

“Larry also played a critical role in launching our IPO in 2001, but perhaps most noteworthy was his leadership through the Great Recession. His integrity, intellect and inspiration will be greatly missed. We wish Larry, and his wife Kathi, all the best in retirement.”

Zimpleman joined the company in 1971 as an actuarial intern. From 1976 to 2006 he served in various management and leadership positions at the officer level, mostly in the U.S. retirement business. He was named president and chief operating officer in 2006; president and chief executive officer in 2008; and president, chairman and CEO until August 2015.