Merchants Bonding Names Gary Scholten to Board of Directors
May 6, 2026
Merchants Bonding Company™ elects Gary Scholten, former Principal Financial Group Chief Information Officer (CIO), to its Board of Directors.
With decades of experience in information technology, digital transformation, and corporate strategy, Scholten helps position Merchants to better serve its agent partners.
Advancing Technology & Innovation
Scholten previously served as Executive Vice President and CIO at Principal Financial Group, where he led a significant digital-driven business transformation on a global scale. His leadership supported millions of customers worldwide and transformed the organization into a more agile, technology-driven business.
"Gary brings a forward-thinking perspective and deep expertise in technology that will be instrumental as we continue to evolve," said Larry Taylor, Chairman of the Board & President of Merchants Bonding. "He doesn't just give advice; he helps organizations understand how emerging technologies impact business models and customer experience." Scholten's guidance will help Merchants continue to deliver clarity and confidence to our partners in a quickly changing landscape.
In addition to his executive leadership experience, Scholten is an Industry Research Fellow at the MIT Center for Information Systems Research, where he collaborates with global leaders to identify the digital strategies driving top-performing organizations. His work focuses on emerging trends such as artificial intelligence and data monetization, insights that will help Merchants continue to innovate while staying grounded in what matters most: providing a first class experience.
Champion of Diversity in Technology
Beyond his technical expertise, Scholten is a strong advocate for diversity in the technology sector. While leading the Diversity and Inclusion Council at Principal, he helped the organization achieve a workforce where 43% of technology professionals were women, more than double the industry average at the time. He was also recognized as an Iowa STEM Champion by the Governor's STEM Advisory Council for his contributions to developing the state's future workforce.
Supporting the Future of Merchants
"I am honored to join the Board of Directors of Merchants Bonding Company" said Scholten. "Merchants has a strong legacy in the surety industry and a clear vision for the future. I look forward to contributing my experience in technology and beyond to support the company's continued growth, innovation, and agility to adapt to what's next."
As Merchants continues to grow, the addition of leaders like Scholten reflects its commitment to helping agent partners navigate the evolving surety landscape.