StanCorp Financial Group, Inc. Announces J. Greg Ness will Succeed Eric Parsons as Chairman

PORTLAND, Ore.--(BUSINESS WIRE)--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 board.

"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 2014.

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.

About StanCorp

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.

Disclosure

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 actual results.

Contact: 

StanCorp Financial Group, Inc.
Investor Relations and Financial Media
Jeff Hallin, 971-321-6127
jeff.hallin@standard.com
or
General Media
Bob Speltz, 971-321-3162
bob.speltz@standard.com