Creates New Department Focused on Environmental, Social and Governance Strategy
Reinforces Continued Advancement of Company-Wide Sustainability Initiatives
MIAMI, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (“Norwegian” or “the Company”) (NYSE: NCLH), a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, today reinforced its commitment to advancing the Company’s Environmental, Social and Governance (ESG) strategy with the creation of a new function focusing exclusively on ESG initiatives. The department will be led by long-time Company leader and cruise industry veteran Andrea DeMarco who was recently appointed Senior Vice President, ESG, Investor Relations and Corporate Communications.
“We are committed to driving a positive impact on society and the environment through the advancement of our global ESG strategy with the creation of a team dedicated to this task,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “It is critical for companies to take an active approach to ESG and our expanded leadership and allocation of resources will help to coordinate our Company-wide sustainability efforts.”
The new ESG function will coordinate closely with departments across the organization including Health, Medical, Safety and Environmental Operations, Human Resources, Supply Chain and Legal. Reporting to DeMarco in a newly created role, Beau Daane has joined the team as Senior Director, ESG, focusing on enhancing and delivering on the Company’s ESG strategy. This new department will be responsible for all updates to the Board of Directors including the Technology, Environmental, Safety and Security (TESS) Committee. The TESS Committee was formed in 2019 and oversees matters related to corporate social responsibility and sustainability.
DeMarco has held a variety of roles during her 18-year career in the cruise industry and will head the Company’s ESG initiatives while also maintaining leadership over the Investor Relations and Corporate Communications departments. DeMarco has been with Company since 2012 and was an integral part of its initial public offering in 2013 and the acquisition of Prestige in 2014. She was named to the Institutional Investor 2020 All-America Executive Team as the #1 Investor Relations Officer in the Leisure sector, was recognized for having the #1 Investor Relations Team and earned the Most Honored Distinction for Best-in-Class ESG Metrics, Corporate Governance and Analyst Days. Prior to joining Norwegian, DeMarco held a variety of roles in the cruise industry including corporate financial planning, sales and revenue management. She served on the Board of Directors as President and Treasurer for the Florida Chapter of the National Investor Relations Institute. DeMarco received a Masters in Finance from Florida International University and a Bachelors in Science in Finance from Florida State University.
“I am honored to lead this new function and look forward to collaborating with our internal and external stakeholders to build upon our ESG roadmap,” said Andrea DeMarco, Senior Vice President, ESG, Investor Relations and Corporate Communications of Norwegian Cruise Line Holdings Ltd.
Daane joined the Company from a mining company where he was a Director of Sustainable Development. In this role, he led the annual production of the corporate responsibility report and guided the company through three materiality processes following the Global Reporting Initiative (GRI) framework. Daane also helped embed sustainability across the organization using Appreciative Inquiry, advancing the work of 10 corporate sustainable development teams and six regional sustainability coordinators. Daane holds an MBA from Case Western Reserve University, a Masters in History from Cleveland State University and a dual-degree Bachelors in French and International Relations from Duke University.
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. With a combined fleet of 27 ships with approximately 58,400 berths, these brands offer itineraries to more than 450 destinations worldwide. The Company will introduce ten additional ships through 2027.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this release constitute 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 release, including, without limitation, those regarding our ESG initiatives, 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 events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; adverse incidents involving cruise ships; adverse general economic and related factors, such as fluctuating or increasing levels of 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 and viral outbreaks; breaches in data security or other disturbances to our information technology and other networks; the risks and increased costs associated with operating internationally; changes in fuel prices and/or other cruise operating costs; fluctuations in foreign currency exchange rates; our expansion into and investments in new markets; overcapacity in key markets or globally; the unavailability of attractive port destinations; our inability to obtain adequate insurance coverage; evolving requirements and regulations regarding data privacy and protection and any actual or perceived compliance failures by us; our indebtedness and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; 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; our inability to recruit or retain qualified personnel or the loss of key personnel; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; our reliance on third parties to provide hotel management services to certain ships and certain other services; future increases in the price of, or major changes or reduction in, commercial airline services; amendments to our collective bargaining agreements for crew members and other employee relation issues; pending or threatened litigation, investigations and enforcement actions; our inability to keep pace with developments in technology; seasonal variations in passenger fare rates and occupancy levels at different times of the year; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under "Risk Factors" in our most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings by the Company with the Securities and Exchange Commission. The above examples are not exhaustive and new risks emerge from time to time. 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 contained herein 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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