FBL Financial Group said that James Hohmann will be stepping down as its CEO effective 30 June 2012.

Hohmanns will also be stepping down from the company’s board.

The company has named James Brannen, currently serving as CFO, chief administrative officer and treasurer, as interim CEO until a replacement is found.

Brannen joined FBL in 1991 and held various positions in the tax and accounting areas prior to being named to his current position in 2007.

Prior to joining FBL, Brannen worked primarily on corporate tax matters for insurance companies for Ernst & Young.

FBL Financial chairman of the board Craig Hill said that during Jim’s tenure as CEO, the company completed its largest-ever business transaction and focused more on organization.

"He delivered exceptional shareholder value and our stock price has well outpaced the industry," Hill said.

"At his hiring, our stock price was $5.52 and under his leadership it topped out at over six times that level."