Business Context and Reporting Period
This Form 8-K Current Report was filed by Norwegian Cruise Line Holdings Ltd. on March 9, 2018, covering events occurring on March 5, 2018. The filing addresses a significant change in executive leadership within the finance department.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Departure of CFO: Ms. Wendy Beck resigned as Executive Vice President and Chief Financial Officer effective March 5, 2018.
- Appointment of Interim CFO: Mr. Mark A. Kempa, previously Senior Vice President, Finance, was appointed as Interim Chief Financial Officer effective March 5, 2018.
- Search for Successor: The Company is conducting a search for a permanent Chief Financial Officer and will name a successor upon completion.
Management Commentary, Risks, and Unusual Items
Compensation and Transition: Mr. Kempa will continue to be compensated under his existing employment agreement, consistent with other similarly situated executives. There are no undisclosed arrangements regarding his selection. Ms. Beck will receive benefits under a transition agreement, including base salary and a pro-rata bonus opportunity as if she remained employed through September 30, 2018.
Background: Mr. Kempa has been with the Company since 1998, holding various roles in accounting, internal audit, and capital planning, and was instrumental in the Company's 2013 initial public offering.
Investor Verification Checklist
- Confirm the timeline for the search and appointment of a permanent Chief Financial Officer.
- Review the specific terms of the transition agreement with Ms. Beck to understand the total cost of her departure.
- Monitor future filings for any additional executive departures or strategic shifts resulting from the leadership change.