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Principal Financial Group is in the early stages of a review of its creative business, the company has confirmed.
Principal has contacted agencies via an initial request for proposals, according to sources. The company's media spending ranges between $15 million and $20 million a year.
"The time is right to review our creative strategy," a Principal representative told Adweek. "Our business and marketing strategies at the Principal have evolved over the past 10 years. As the business strategy has changed, so has our advertising strategy."
Among the key decision-makers is chief marketing officer Mary O'Keefe.
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