Capital Financial Holdings, Inc. announced that on May 22, 2017, John Carlson tendered his resignations from the Board of Directors and as the Chief Executive Officer, which resignations were accepted by the remaining member of the Board of Directors. Mr. Carlson was a member of the Company's Compensation Committee, Audit Committee and Nominating Committee. Mr. Carlsons resignation is not related to any known disagreement with the Company on any matters relating to its operations, policies or practices.

On May 22, 2017, the remaining Directors, Gordon Dihle and Elizabeth Colby appointed Gordon Dihle, currently Chairman of the Board of the Company to fill the position of Chief Executive Officer, with the remaining directorship to remain vacant Mr. Dihle has been employed as an attorney and has been principal of Corporate Legal, LLC in Centennial Colorado since 1996 and was concurrently employed at Spencer Edwards, Inc.