Kathleen Kay Joins Principal as Chief Information Officer

DES MOINES, Iowa--(BUSINESS WIRE)--Principal Financial Group^® (Nasdaq: PFG) today announced Kathleen Kay, former chief information officer for Pacific Gas & Electric Company (PG&E), will join Principal as its new chief information officer on May 1. She succeeds Gary Scholten, chief information officer and chief digital officer, who previously announced his retirement effective June 2, after 40 years of service.

“Kathleen brings a wealth of digital and IT experience to Principal that’s critical to helping our businesses adapt and to serve the evolving needs of our customers around the world,” said Dan Houston, chairman, president, and CEO of Principal. “With the leadership positions she’s held across a wide range of industries, she’s well-versed in today’s technological capabilities and understands the importance of aligning IT and business strategies with future technology needs. Her ability to build and guide strong relationships with internal and external partners will help us drive innovation across the organization, and I look forward to her carrying on Gary’s legacy of developing strong IT talent.”

As chief information officer, Kay will have responsibility for the global technology and digital strategies for Principal and report to Houston.

Prior to Principal, Kay led PG&E’s information technology (IT) business, including its mission-critical systems and the development of the company’s technology strategy, infrastructure, and architecture. She also held several IT leadership positions with General Motors, Comerica, and SunTrust.

Kay earned her Master of Science in Engineering Science from Rensselaer Polytechnic Institute and Bachelor of Science degree in Computer Science from Wayne State University. Kay will be based out of the Principal headquarters in Des Moines, Iowa.

About Principal^®

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.

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