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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 12, 1999
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DBT Online, Inc.
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(Exact name of registrant specified in Charter)
Pennsylvania 1-13333 85-0439411
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
5550 W. Flamingo Road, Suite B-5
Las Vegas, Nevada 89103
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(Address of principal executive offices) Zip Code
REGISTRANT'S TELEPHONE, INCLUDING AREA CODE: (702) 257-1112
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(Former name and former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On August 12, 1999, DBT Online, Inc. ("DBT") announced that Charles A.
Lieppe has resigned as President, Chief Executive Officer and a Director of DBT
effective immediately due to personal reasons. Ronald Fournet, DBT's Chief
Information & Technology Officer, has been named to replace Mr. Lieppe as
President and CEO. DBT hereby incorporates by reference the press release dated
August 12, 1999 attached hereto as Exhibit 99.1.
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SIGNATURE
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.
DBT ONLINE, INC.
(Registrant)
By /s/ Timothy M. Leonard
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Timothy M. Leonard
Vice President, Finance, Treasurer, and
Chief Financial Officer
Dated: August 13, 1999
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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99.1 Press Release: DBT's Ron Fournet Named President and CEO,
dated August 12, 1999.
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EXHIBIT 99.1
FOR FURTHER INFORMATION CONTACT:
Timothy M. Leonard
Vice President and Chief Financial Officer
DBT Online, Inc.
(561) 982-5000
FOR IMMEDIATE RELEASE
DBT'S RON FOURNET NAMED PRESIDENT & CEO
BOCA RATON, Fla.-- August 12, 1999--DBT Online, Inc. (NYSE: DBT)
announced that Ron Fournet, Chief Information & Technology Officer, has been
named President and CEO, replacing Charles A. Lieppe, who resigned as an Officer
and Director effective immediately due to personal reasons. "A sudden illness in
my immediate family made it impossible for me to devote my full attention to
DBT," said Mr. Lieppe, who joined DBT as President and CEO in 1997.
Mr. Lieppe is known for leading the development and launch of the
Company's successful www.autotrackxp.com secure anti-fraud, anti-crime
information web site and guiding the Company's national expansion from its
Florida roots. "I'm very confident that with Ron's leadership skills, DBT will
continue to aggressively expand through internal growth and acquisition," he
continued. "To help ensure that, I plan to make myself available to him between
now and the end of the year to effect a smooth transition."
Frank Borman, Chairman of DBT, said Mr. Lieppe's resignation signals no
change in corporate strategy or performance. "Speaking for the Board of
Directors and the entire Company, we hope for the best for Chuck and his
family," Mr. Borman said. "Chuck has been instrumental to DBT's growth. Looking
ahead, we think Ron is an excellent choice to continue and expand upon Chuck's
work. Ron has extensive experience in the information technology business and
has already demonstrated great leadership at DBT."
In January, Mr. Lieppe created the Chief Information & Technology
Officer executive management position to recruit Mr. Fournet from Equifax Inc.,
where Mr. Fournet was Senior Vice President and Chief Technology Officer of
North American operations. At Equifax, Mr. Fournet helped expand the credit
information company's value-added, online "decisioning" products into a
significant line of business. These products help commercial institutions
analyze massive financial databases to decide on a real-time basis whether to
grant consumer or business credit.
"We see a similar business opportunity at DBT to develop increasingly
powerful, next-generation services that can help companies speed decision
making, reduce risk, and create
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opportunity," Mr. Fournet explained. "These new services will be based on the
more extensive array of public record and other information that is uniquely
available to us through DBT's massive database. In turn, this should enable us
to continue and even accelerate our record of high-profit growth."
After spending eight years in Army Special Forces Intelligence
Operations, Mr. Fournet began his corporate career with GTE Corporation, where
he was responsible for advanced software development and applied research for
new development technologies. Later, he served US West, where he led its
Advanced Technology Information Architecture organization and new business
ventures requiring advanced innovative systems development and business-driven
systems management. He joined Equifax in 1996 as VP-Application Development and
later assumed additional responsibilities as the Company's Senior VP/CTO for
North America.
DBT Online, Inc. (www.dbtonline.com) is a leading nationwide provider
of online public record data and other publicly available information. DBT's
database is one of the country's largest depositories of public records and
other public information, containing more than 4 billion records, with more than
25 terabytes of data storage capacity. DBT currently has more than 14,000
customers consisting primarily of insurance companies, law firms, private
investigators, law enforcement, and government agencies.
Forward-Looking Statements: Information contained above with respect to
the Company's Results of Operations, regarding expected future events and
financial results, is forward-looking and subject to risks and uncertainties.
Those statements are forward-looking statements within the meaning of Section
31E of the Securities Exchange Act of 1934. The following important factors
could affect the future results of the Company and could cause those results to
differ materially from those expressed in the forward-looking statements: (i)
the ability to manage DBT's rapid expansion, (ii) protecting DBT's proprietary
technology, (iii) impact of future government regulation on the availability of
public records, and (iv) the extent, timing and success of competition from
other database providers.
CONTACT: DBT Online, Inc. Gary Fishman at 212-889-1727 x110 or Kimberly Boshara,
212-889-1727 x106
