StanCorp Financial Group, Inc. (ticker: SFG, exchange: New York Stock Exchange (.N))
News Release -
StanCorp Financial Group, Inc. Announces J. Greg Ness will Succeed Eric Parsons as Chairman
PORTLAND, Ore.--(BUSINESS WIRE)--Dec. 7, 2011--
StanCorp Financial Group, Inc. ("StanCorp") (NYSE:SFG) announced today
that J. Greg Ness has been elected to succeed Eric Parsons as chairman
of the board of directors of StanCorp and its largest subsidiary,
Standard Insurance Company ("The Standard"), effective immediately. Ness
will continue as president and chief executive officer of StanCorp and
The Standard, and Parsons will continue to serve as a member of the
"Eric's leadership has been instrumental to the success of this
Company," said Greg Ness, chairman, president and chief executive
officer. "I am pleased that we will continue to benefit from his
experience, advice and counsel as a member of the board."
Ness was appointed to the board in July, 2009 and first elected by
shareholders in May, 2010. His current term as a director expires in
Parsons' current term as a director expires at the Annual Meeting of
Shareholders in 2012.
E. Kay Stepp, an independent member of the board of directors, will
continue to serve as lead director. The lead director provides
leadership and counsel to the independent directors and, in conjunction
with the chairman of the board, provides leadership to the board in
reviewing and deciding upon matters which exert major influence on the
manner in which the Company's business is conducted.
StanCorp, through its subsidiaries marketed as The Standard — Standard
Insurance Company, The Standard Life Insurance Company of New York,
Standard Retirement Services, StanCorp Mortgage Investors, StanCorp
Investment Advisers, StanCorp Real Estate and StanCorp Equities — is a
leading provider of financial products and services. StanCorp's
subsidiaries offer group and individual disability insurance, group life
and accidental death and dismemberment insurance, group dental and group
vision insurance, absence management services, retirement plans products
and services, individual annuities and investment advice. For more
information about StanCorp, visit its investor website at www.stancorpfinancial.com.
Information in this news release includes certain statements related to
projected growth and future events. These statements are
"forward-looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Because such statements are
subject to risks and uncertainties, actual results in future periods may
differ materially from those expressed or implied by such
forward-looking statements. See StanCorp's 2010 Form 10-K and most
recent Form 10-Q filed with the Securities and Exchange Commission for a
description of the types of uncertainties and risks that may affect
Source: StanCorp Financial Group, Inc.
StanCorp Financial Group, Inc.
Investor Relations and Financial
Jeff Hallin, 971-321-6127
Bob Speltz, 971-321-3162