8-K 1 fic8k-082503.txt FIC - PRESS RELEASE FROM 8/25/03 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 -