Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) (together with NCL
Corporation Ltd., "Norwegian Cruise Line Holdings," "Norwegian",
“NCLH” or the "Company") today announced the appointment of José E.
Cil to its Board of Directors (the "Board") as a new independent
director, effective October 6, 2023. With Mr. Cil’s appointment,
the Board has expanded from eight to nine members, seven of whom
are independent. Mr. Cil will serve as a member of the Company’s
Audit Committee.
“We are pleased to welcome a highly experienced
executive of José’s caliber to our Board,” said Russell W. Galbut,
chairman of the Board. “His appointment reflects our commitment to
regularly evaluating our board to bring the right mix of skills and
expertise to the table to guide Norwegian’s long-term strategy to
unlock growth and drive shareholder value.”
“José has a decades-long track record of
successfully leading premier organizations and I am confident that
he will be a strong addition to our Board,” said Harry J.
Sommer, president and chief executive officer of Norwegian
Cruise Line Holdings. “His collaborative leadership style,
results-oriented mindset and proven ability to transform and grow
global businesses will be a tremendous asset to enhance the
collective expertise of our board. His deep knowledge of the
restaurant industry also has significant parallels to the cruise
industry, and we look forward to benefitting from his wealth of
experience as we enhance our strategic vision and position the
Company for long-term success.”
Mr. Cil served as Chief Executive Officer of
Restaurant Brands International Inc. (“RBI”) from January 2019 to
March 2023. RBI is a global enterprise that owns some of the most
iconic restaurant brands in the world, including Burger King®, Tim
Hortons®, Popeyes® and Firehouse Subs®. During his tenure, RBI
expanded globally while maintaining a strong focus on financial
results and returning capital to shareholders. In addition to
leading RBI through the pandemic and subsequent recovery, Mr. Cil
also led the company’s digital transformation efforts, development
of its sustainability framework, Restaurant Brands for Good, and
execution of its $1 billion acquisition of Firehouse Subs. He
received numerous accolades during his tenure including being named
Restaurant Leader of the Year by Restaurant Business Magazine in
2021 and a 2021 South Florida Ultimate CEO honoree by South Florida
Business Journal.
Prior to being named CEO of RBI, Mr. Cil spent
20 years in various leadership roles of increasing responsibility
at Burger King, including serving as Global President of Burger
King from December 2014 to January 2019 and President of Burger
King Europe, Middle East & Africa (EMEA) from November 2010 to
December 2014. Mr. Cil also has experience as a board member having
served on the board of directors for Carrols Restaurant Group, Inc.
from January 2015 to February 2020 and currently as a director of
privately held Restaurant Brands Iberia.
A leader in the South Florida community, José is
also involved in several organizations that promote the economic
development of Florida, serving as a member of the Orange Bowl
Committee, as Council Member on the Florida Council of 100, a
Member of the Board of Visit Florida, a Member of the Executive
Board of Advisors of Florida International University’s Chaplin
School of Hospitality & Tourism Management, and was recently
appointed to the Board of Advisors of Belen Jesuit Preparatory
School in Miami.
Mr. Cil is a graduate of Tulane University and
started his career practicing law after earning his Juris Doctor
degree from the University of Pennsylvania Law School.
About Norwegian
Cruise Line
Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is the leading
global cruise company that operates Norwegian Cruise Line, Oceania
Cruises and Regent Seven Seas Cruises. With a combined fleet of 31
ships and more than 65,000 berths, NCLH offers itineraries to
approximately 700 destinations worldwide. NCLH has six additional
ships scheduled for delivery across its three brands, adding nearly
16,500 berths to its fleet. To learn more, visit
www.nclhltd.com.
Cautionary Statement Concerning
Forward-Looking Statements
Some of the statements, estimates or projections
contained in this press release are “forward-looking statements”
within the meaning of the U.S. federal securities laws intended to
qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical facts contained in this press
release, including, without limitation, those regarding our
business strategy, financial position, results of operations,
plans, prospects, actions taken or strategies being considered with
respect to our liquidity position, valuation and appraisals of our
assets and objectives of management for future operations
(including those regarding expected fleet additions, our
expectations regarding macroeconomic conditions, our expectations
regarding cruise voyage occupancy, the implementation of and
effectiveness of our health and safety protocols, operational
position, demand for voyages, plans or goals for our sustainability
program and decarbonization efforts, our expectations for future
cash flows and profitability, financing opportunities and
extensions, and future cost mitigation and cash conservation
efforts and efforts to reduce operating expenses and capital
expenditures) are forward-looking statements. Many, but not all, of
these statements can be found by looking for words like “expect,”
“anticipate,” “goal,” “project,” “plan,” “believe,” “seek,” “will,”
“may,” “forecast,” “estimate,” “intend,” “future” and similar
words. Forward-looking statements do not guarantee future
performance and may involve risks, uncertainties and other factors
which could cause our actual results, performance or achievements
to differ materially from the future results, performance or
achievements expressed or implied in those forward-looking
statements. Examples of these risks, uncertainties and other
factors include, but are not limited to the impact of: adverse
general economic factors, such as fluctuating or increasing levels
of interest rates, inflation, unemployment, underemployment and the
volatility of fuel prices, declines in the securities and real
estate markets, and perceptions of these conditions that decrease
the level of disposable income of consumers or consumer confidence;
the spread of epidemics, pandemics and viral outbreaks, including
the COVID-19 pandemic, and their effect on the ability or desire of
people to travel (including on cruises), which has adversely
impacted and may continue to adversely impact our results,
operations, outlook, plans, goals, growth, reputation, cash flows,
liquidity, demand for voyages and share price; implementing
precautions in coordination with regulators and global public
health authorities to protect the health, safety and security of
guests, crew and the communities we visit and to comply with
related regulatory restrictions; our indebtedness and restrictions
in the agreements governing our indebtedness that require us to
maintain minimum levels of liquidity and be in compliance with
maintenance covenants and otherwise limit our flexibility in
operating our business, including the significant portion of assets
that are collateral under these agreements; our ability to work
with lenders and others or otherwise pursue options to defer,
renegotiate, refinance or restructure our existing debt profile,
near-term debt amortization, newbuild related payments and other
obligations and to work with credit card processors to satisfy
current or potential future demands for collateral on cash advanced
from customers relating to future cruises; our need for additional
financing or financing to optimize our balance sheet, which may not
be available on favorable terms, or at all, and our outstanding
exchangeable notes and any future financing which may be dilutive
to existing shareholders; the unavailability of ports of call;
future increases in the price of, or major changes, disruptions or
reduction in, commercial airline services; changes involving the
tax and environmental regulatory regimes in which we operate,
including new regulations aimed at reducing greenhouse gas
emissions; the accuracy of any appraisals of our assets as a result
of the impact of the COVID-19 pandemic or otherwise; our success in
controlling operating expenses and capital expenditures; trends in,
or changes to, future bookings and our ability to take future
reservations and receive deposits related thereto; adverse events
impacting the security of travel, or customer perceptions of the
security of travel, such as terrorist acts, armed conflict, such as
Russia’s invasion of Ukraine, and threats thereof, acts of piracy,
and other international events; adverse incidents involving cruise
ships; breaches in data security or other disturbances to our
information technology and other networks or our actual or
perceived failure to comply with requirements regarding data
privacy and protection; changes in fuel prices and the type of fuel
we are permitted to use and/or other cruise operating costs;
mechanical malfunctions and repairs, delays in our shipbuilding
program, maintenance and refurbishments and the consolidation of
qualified shipyard facilities; the risks and increased costs
associated with operating internationally; our inability to recruit
or retain qualified personnel or the loss of key personnel or
employee relations issues; impacts related to climate change and
our ability to achieve our climate-related or other sustainability
goals; our inability to obtain adequate insurance coverage; pending
or threatened litigation, investigations and enforcement actions;
volatility and disruptions in the global credit and financial
markets, which may adversely affect our ability to borrow and could
increase our counterparty credit risks, including those under our
credit facilities, derivatives, contingent obligations, insurance
contracts and new ship progress payment guarantees; any further
impairment of our trademarks, trade names or goodwill; our reliance
on third parties to provide hotel management services for certain
ships and certain other services; fluctuations in foreign currency
exchange rates; our expansion into new markets and investments in
new markets and land-based destination projects; overcapacity in
key markets or globally; and other factors set forth under “Risk
Factors” in our most recently filed Annual Report on Form 10-K and
subsequent filings with the Securities and Exchange Commission. The
above examples are not exhaustive and new risks emerge from time to
time. There may be additional risks that we consider immaterial or
which are unknown. Such forward-looking statements are based on our
current beliefs, assumptions, expectations, estimates and
projections regarding our present and future business strategies
and the environment in which we expect to operate in the future.
These forward-looking statements speak only as of the date made. We
expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
to reflect any change in our expectations with regard thereto or
any change of events, conditions or circumstances on which any such
statement was based, except as required by law.
Investor Relations & Media Contact
Jessica John(305) 468-2339InvestorRelations@nclcorp.com
Norwegian Cruise Line (NYSE:NCLH)
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