SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): August 25, 2003
FINANCIAL INDUSTRIES CORPORATION
(Exact name of Registrant as specified in charter)
Texas 0-4690 74-2126975
(State or other jurisdiction Commission file number) (I.R.S. employer
of incorporation) identification no.)
6500 River Place Blvd., Building One
Austin, Texas 78730
(Address of principal executive offices)
Registrant's telephone number, including area code: (512) 404-5000
________________________________
- 1 -
Item 5. Other Events
On August 25 2003, Financial Industries Corporation ("Registrant") issued a
press release announcing today that Dr. Eugene E. Payne has resigned as
Chairman, CEO and President of Financial Industries Corporation (FIC). Following
Payne's resignation as Chairman, Keith Long was elected Chairman of the FIC's
Board of Directors. Payne has agreed to continue in his duties as CEO and
President until a replacement is hired by the Board of Directors.
The press release is filed as Exhibit 99.1 to this 8-K and is also available on
FIC's website at www.ficgroup.com.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The following exhibit is included with this Report:
Exhibit 99.1 Press release dated August 25, 2003 issued by Financial
Industries Corporation
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FINANCIAL INDUSTRIES CORPORATION
Date: August 25, 2003
By: /s/ Eugene E. Payne
_____________________________________
Eugene E. Payne
Chief Executive Officer
- 2 -
Exhibit 99.1
(BW) (Financial Industries Corporation) (FNIN) Payne Resigns as FIC Chairman;
Board Votes in Long as Successor
AUSTIN, Texas - (BUSINESS WIRE) - August 25, 2003 - Dr. Eugene E. Payne
announced today his resignation as Chairman, CEO and President of Financial
Industries Corporation (FIC).
"When I was asked by the Board of Directors last November to return to FIC as
President, Chairman and CEO, my goals were to reorganize the company and guide
it through a difficult transition," said Payne. "With that accomplished, it is
now a good time for new leadership to take over."
Following Payne's resignation as Chairman, Keith Long was elected Chairman of
the FIC's Board of Directors. Payne has agreed to continue in his duties as CEO
and President until a replacement is hired by the Board of Directors. FIC,
through its various subsidiaries, owns real estate, an actuarial consulting
firm, and markets and underwrites individual life insurance and annuity
products. For more information on FIC, go to http://www.ficgroup.com
This release may contain "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995. These statements
are based on management's current expectations and are subject to risks,
uncertainty and changes in circumstances, which may cause actual results,
performance or achievements to differ materially from anticipated results,
performance or achievements. Investors are reminded that these forward-looking
statements must be considered in conjunction with the cautionary warnings and
risk-factors which are detailed in the Company's most recent Annual Report on
Form 10-K, Quarterly Report on Form 10-Q, and its other filings with the
Securities and Exchange Commission. FIC is under no obligation to (and expressly
disclaims any such obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.
Contact: Robert Cox, Corporate Relations, 512-404-5128, rcox@ficgroup.com
- 3 -