Norwegian Cruise Line Holdings Ltd. Appoints José E. Cil to Board of Directors
MIAMI, Fla., Oct. 10, 2023 (GLOBE NEWSWIRE) -- 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.
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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. 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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.
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