Principal Financial Group Inc.’s board of directors has elected Dan Houston, president and CEO, as chairman of the board effective May 17, immediately following its annual meeting of shareholders, the company announced Monday. Larry Zimpleman will continue as non-executive chairman through the annual meeting. He will then leave the board having completed his current term as an elected director. “We thank Larry for his 44 years of dedicated service to Principal and the legacy he leaves,” Houston said. “As an organization, we have a lot to look forward to and so many things to be optimistic about as we continue to strengthen our business operations and brand around the globe.” Houston was named president and chief operating officer in 2014 and president and CEO in 2015.