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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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DECEMBER 15, 1999
Date of report (Date of earliest event reported)
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Commission File Number: 0-18108
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FINET.COM, INC.
Exact name of registrant as specified in its charter)
DELAWARE
(State or jurisdiction of
incorporation or organization)
2527 CAMINO RAMON, SUITE 200
SAN RAMON, CA 94583
(Address of principal executive office)
94-3115180
(IRS Employer Identification Number)
Telephone Number: (925) 242-6550
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On December 15, 1999, the Company announced the retirement of Mark
Korell as Chairman, Chief Executive Officer and Director effective
January 15, 2000. A copy of the press release is attached as
Exhibit 99.1.
ITEM 7. EXHIBITS
EXHIBIT 99.1 Press Release dated December 15, 1999 entitled
"FiNet.com Announces Retirement of Chief Executive Officer - Board
of Directors Names Interim CEO"
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, THEREUNTO DULY AUTHORIZED.
FINET.COM, INC.
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Date: December 29, 1999 /s/ GARY A. PALMER
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GARY A. PALMER
(PRINCIPAL FINANCIAL
OFFICER)
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FiNet.com Announces
Retirement of Chief Executive Officer
Board of Directors Names Interim CEO
SAN RAMON, CA, December 15, 1999 - FiNet.com, Inc. (NASDAQ: FNCM)
owner and operator of www. Finet.com, today announced the
retirement of Mark L. Korell as Chairman, Chief Executive Officer
and a Director effective January 15, 2000. A representative of
the Board of Directors, Stephen J. Sogin, was named as interim
Chief Executive Officer and member of a search committee to
recruit a successor.
FiNet.com will aggressively focus its strategy on providing its
leading edge technology to the over 36,000 mortgage brokers in the
U.S, which represent 70% of the approximately one trillion
mortgage originations done annually. Finet.com's unique
technology platform and multi-lender application is uniquely
positioned at dominating this space.
In commenting on his retirement, Mr. Korell stated "I am proud of
our team's accomplishments over the last fifteen months. We
stabilized the company's financial position and built the company
into one of the nation's leading e-commence lending businesses. I
look forward now to being able to spend more quality time with my
family and charitable activities."
About FiNet.com, Inc.
FiNet.com, Inc. including its wholly owned subsidiaries, is a
leading provider of e-commerce home financing services which
facilitate home ownership, including a variety of technology-based
products and automated services for consumers and mortgage broker
businesses. FiNet.com, Inc. offers online financing solutions
directly to consumers through its www.finet.com web site and to
mortgage broker businesses through Monument Mortgage and its web
site www.monument.com.
Safe Harbor
Certain statements in this press release, including statements
regarding the anticipated development and expansion of the
Company's business, and the intent, belief or current expectations
of the Company, its directors or its officers, are "forward-
looking" statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995). Because such statements
are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements.
