Graham Cook, chairman, president and CEO of Homesteaders Life Co., announced a succession plan as he prepares to step down from his management duties, the company announced.

Steve Lang, the company's chief operating officer, will take over as president in February 2014, following the company's annual board meeting. Cook will remain chairman of the board through 2014.

"Steve and I have worked together to develop a management team that will ensure Homesteaders maintains its market leadership position and will remain on its trajectory of profitable growth," Cook said.