Iowa Lt. Gov. Adam Gregg has announced his resignation after more than seven years in office to take on the role of president and CEO of the Iowa Bankers Association. Gregg expressed his gratitude for his time in public service and highlighted the importance of Iowa banks in the state’s success. Gov. Kim Reynolds praised Gregg as a valuable partner and announced that she will appoint someone to fill the vacancy for the remainder of his term later this fall. Iowa Senate President Amy Sinclair is next in line for succession.
The Iowa Bankers Association, which has been led by John Sorensen for 28 years, advocates for its members with state and local governments. Sorensen is stepping down this year, and Gregg’s new role is expected to come with a significant pay increase. Iowa law prohibits statewide elected officials from becoming lobbyists within two years after leaving office to prevent them from immediately benefiting from their government service. The group plans to comply with this law as Gregg transitions to his new position.
The “revolving door” law, enacted after a scandal in the 1990s, aims to restrict elected officials from exploiting their government connections for personal gain after leaving office. Reynolds appointed Gregg to the position of lieutenant governor in 2017 when former Gov. Terry Branstad became the U.S. ambassador to China. The Republican ticket, with Gregg as lieutenant governor, was elected to a full term in 2018 and reelected in 2022. Gregg previously ran for attorney general in 2014 and served as the state public defender after his defeat.
In his resignation statement, Gregg emphasized the need to focus on his family, including his wife and two children who are growing up quickly. The move to the Iowa Bankers Association will allow him to prioritize his family while continuing to contribute to the state’s success through his new role. As Gregg prepares to take on this new position, the Iowa Bankers Association looks forward to his leadership and advocacy on behalf of the banking industry in the state. Reynolds will appoint a replacement for Gregg, and Sinclair is prepared to fulfill the role of lieutenant governor until a permanent appointment is made.
