8-K
filed March 20, 2023, 7:59 PM ET
ticker NCLH
CIK 0001513761
leadership
confidence high
sentiment neutral
materiality 0.70
NCLH CEO Frank Del Rio to retire June 30, 2023; Harry Sommer to succeed
Norwegian Cruise Line Holdings Ltd.
- CEO Frank Del Rio retires June 30, 2023; transition bonus up to $9M based on EBITDA target; consulting fees $2M (2023), $4M/year (2024-2025).
- Harry Sommer becomes CEO-elect Apr 1, 2023, CEO July 1, 2023; base salary $1.1M, target bonus ≥175% of base.
- David Herrera appointed President of Norwegian Cruise Line effective Apr 1, 2023; base salary $750,000.
- Sommer and Herrera receive employment agreements through Dec 31, 2025 with severance equal to 2x base salary plus accelerated equity vesting.
- Del Rio will serve as Senior Advisor through Dec 2025; non-compete restrictions through at least June 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harry Sommer was appointed as President and Chief Executive Officer at Norwegian Cruise Line Holdings Ltd..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
and President and Chief Executive Officer of the Company, effective July 1, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harry Sommer was appointed as Director at Norwegian Cruise Line Holdings Ltd..
- Action
- appointed
- Role
- Director
Exact text from the filing
Mr. Sommer has also been appointed to the Board of Directors of the Company, effective July 1, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Harry Sommer was appointed as President and Chief Executive Officer – Elect at Norwegian Cruise Line Holdings Ltd..
- Action
- appointed
- Role
- President and Chief Executive Officer – Elect
Exact text from the filing
Mr. Harry Sommer would become President and Chief Executive Officer – Elect of the Company, effective April 1, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Frank J. Del Rio resigned as Director at Norwegian Cruise Line Holdings Ltd..
- Action
- resigned
- Role
- Director
Exact text from the filing
On March 20, 2023, Norwegian Cruise Line Holdings Ltd. (the “Company” or “NCLH”) announced that Frank J. Del Rio will retire from his position as the Company’s President and Chief Executive Officer and resign from the Board of Directors of the Company, effective as of the end of the day on June 30, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Herrera was appointed as President, Norwegian Cruise Line at Norwegian Cruise Line Holdings Ltd..
- Action
- appointed
- Role
- President, Norwegian Cruise Line
Exact text from the filing
Mr. David Herrera would be become President, Norwegian Cruise Line, effective April 1, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Frank J. Del Rio retired as President and Chief Executive Officer at Norwegian Cruise Line Holdings Ltd..
- Action
- retired
- Role
- President and Chief Executive Officer
Exact text from the filing
On March 20, 2023, Norwegian Cruise Line Holdings Ltd. (the “Company” or “NCLH”) announced that Frank J. Del Rio will retire from his position as the Company’s President and Chief Executive Officer and resign from the Board of Directors of the Company, effective as of the end of the day on June 30, 2023.
View on SEC.gov
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