Deanna Strable
About Deanna D. Strable
Deanna D. Strable, age 56, is an independent director of Elevance Health (ELV) since 2022. She is President and CEO of Principal Financial Group, Inc. (since January 2025) and previously served as Principal’s EVP & CFO (2017–Jan 2025) and President, U.S. Insurance Solutions (2015–2017). She qualifies as an SEC “audit committee financial expert,” holds a B.A. from Northwestern University, and is a Fellow of the Society of Actuaries .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Principal Financial Group, Inc. | President & CEO | Jan 2025–Present | CEO leadership; significant finance, regulatory, and insurance oversight |
| Principal Financial Group, Inc. | EVP & CFO | 2017–Jan 2025 | Oversaw financial reporting, capital markets, corporate finance; audit committee financial expert credentials |
| Principal Financial Group, Inc. | President, U.S. Insurance Solutions | 2015–2017 | Specialty health insurance product leadership (industry domain expertise) |
| Principal Financial Group, Inc. | Various actuarial & management roles | 1990–2017 | Progressive actuarial/management experience |
| United Way Worldwide (non-profit) | Director | 2018–2024 | Community/ESG engagement experience |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Principal Financial Group, Inc. | Director | Jan 2025–Present | Concurrent public-company CEO/director role |
Board Governance
- Independence and roles: Independent director; serves on Audit Committee and Governance Committee; recognized as an “audit committee financial expert” .
- Committee assignments and chairs: Member, not chair, of Audit (8 meetings in 2024) and Governance (4 meetings in 2024) .
- Attendance and engagement: Board held 6 meetings in 2024; independent directors hold executive sessions at both the beginning and end of regular meetings; each director attended at least 75% of Board and committee meetings during their tenure in 2024; all directors attended the 2024 Annual Meeting .
- Board structure and leadership: Separate CEO and Independent Chair structure; incoming independent Chair (Ramiro G. Peru) effective at 2025 Annual Meeting; 10 of 11 directors are independent .
- Tenure on ELV Board: Director since 2022 .
Fixed Compensation
| Component | Amount | Detail |
|---|---|---|
| Annual cash retainer (2024) | $125,000 | Standard non-employee director retainer (cash portion) |
| Cash actually paid (2024) | $125,484 | Includes $483.88 cash in lieu of fractional share from annual grant |
| Committee chair fees | $0 | Not a committee chair in 2024 |
| Other compensation (2024) | $10,000 | Includes Foundation matching gift and/or dividend equivalents as disclosed; Strable total “All Other” shown as $10,000 |
Notes: Non-employee directors also receive Company-paid annual physicals .
Performance Compensation
| Equity Element | 2024 Grant Terms | Vesting/Deferral | Total Deferred Shares Held |
|---|---|---|---|
| Annual stock retainer (equity) | $210,000 grant; 388 deferred shares granted May 15, 2024 at $539.99/share | Minimum 5-year deferral; dividends accrue and are paid in cash at distribution; shares distributed at earlier of deferral lapse or board departure | 1,045 deferred shares as of 12/31/2024 |
Director stock awards are service-based retainer equity, not performance-conditioned PSUs; value aligns director interests with shareholders through share ownership and deferral .
Other Directorships & Interlocks
| Entity | Type | Potential Interlock/Conflict Considerations | Status |
|---|---|---|---|
| Principal Financial Group, Inc. (PFG) | Public company | Strable is CEO and director; ELV policy caps CEOs at one other public company board—aligned with service at ELV (one “other” board) | In compliance with ELV overboarding policy for CEOs |
| Related party transactions at ELV (2024) | Policy/Company-wide | Governance Committee reviews/approves; 2024 transactions with companies linked to directors were arm’s-length and within pre-approvals or not material; no specific Strable-related transaction disclosed | No related-party red flags disclosed for Strable |
Expertise & Qualifications
- Insurance and healthcare-related experience via Principal’s specialty health insurance and broad insurance platform; extensive finance/capital markets expertise as former public-company CFO; regulatory/public policy exposure from highly regulated sectors .
- Qualifies as SEC “audit committee financial expert”; actuarial credential (Fellow, Society of Actuaries); B.A., Northwestern University .
Equity Ownership
| Holder | Shares Owned | Supplementally Owned (Deferred/Other) | Total Beneficial Ownership | Notes |
|---|---|---|---|---|
| Deanna D. Strable | 0 | 1,045 | 1,045 | None of directors/NEOs >1% ownership; 238,430,367 shares outstanding as of 2/1/2025 |
Ownership alignment and policies:
- Director ownership guideline: at least $625,000 in ELV stock within five years of Board start; deferred shares count; all non-employee directors either meet or are on track per 2024 average price $494.48 .
- Hedging and pledging prohibited for directors; covered by insider trading policy and governance practices .
Insider Trades (Section 16)
| Item | Disclosure |
|---|---|
| Section 16(a) compliance | Company states that required reports were timely filed, except one late Form 4 for a former executive officer; no delinquent filings noted for current directors |
| Form 4 transactions disclosed (proxy) | No individual transaction detail provided in the 2025 proxy; security ownership table reflects beneficial holdings as of 2/1/2025 |
Governance Assessment
- Strengths: Independent status; Audit and Governance Committee service with “audit committee financial expert” designation—supports financial oversight rigor and board effectiveness .
- Alignment: Director pay mix blends fixed cash and significant deferred equity ($210,000; 388 shares; 5-year deferral), reinforcing long-term alignment; director ownership guideline and deferral enhance skin-in-the-game .
- Engagement and attendance: Board and committees met regularly (Board 6; Audit 8; Governance 4); each director met at least 75% attendance; independent director executive sessions at each regular meeting; all attended 2024 Annual Meeting—indicators of engagement .
- Conflict controls: Robust related-party review with Governance Committee oversight; 2024 transactions involving companies linked to directors were arm’s-length within pre-approvals or immaterial; no Strable-specific related-party transactions disclosed .
- Shareholder sentiment: Strong say-on-pay approval (~92% in 2024) and ongoing shareholder engagement reinforce governance credibility, though this pertains to executive pay rather than director pay specifically .
- Workload/overboarding: ELV policy limits public-company CEOs to one other public board; Strable’s service at ELV alongside her PFG CEO role is within policy—mitigates overboarding risk .
- RED FLAGS: None disclosed—no hedging/pledging, no related-party exceptions, adequate attendance. Continue to monitor any ELV–PFG business interactions under the related-person policy; 2024 disclosures show no material concerns .