Ambassadors Int’l CEO Resigns
Ambassadors International, Inc. (NASDAQ:AMIE) on March 24 announced that Joseph J. Ueberroth, President and Chief Executive Officer and a member of the Board of Directors, has resigned as the company's President and Chief Executive Officer effective April 1, 2009 to pursue other ventures. Ueberroth also resigned from the Board of Directors effective March 20, 2009. Mr. Ueberroth first announced his resignation in September 2008 giving the company twelve months notice. However, since the company, as previously announced, is substantially complete with the process of moving its corporate headquarters to Seattle to concentrate on its cruise business, Ueberroth felt it was now the appropriate time for him to leave. Mr.
Detillion CFO, Ambassadors International
Ambassadors International, Inc. (NASDAQ:AMIE), announced that Mark Detillion has joined the company March 23 and will become the company's Chief Financial Officer effective April 1, 2009. Detillion has expertise which includes performance and profitability analysis, and venture funding. For the past eight years Mr. Detillion served as the vice president of finance and chief financial officer for Cruise West in Seattle, WA. Prior to Cruise West he spent several years as the chief financial officer for Shilo Inns in Portland, OR. He also served as the director of finance for Holland America Lines. Detillion holds a B.A. in Accounting from the University of Washington and is a certified public accountant in the State of Washington. Ambassadors International, Inc.
Ambassadors Int’l CEO Foregoes Comp Pkg
Ambassadors International, Inc. (NASDAQ:AMIE) announced that Joseph J. Ueberroth, Chairman and Chief Executive Officer, voluntarily foregoes the compensation entitled to him under his employment agreement dated November 2, 2006. Under the terms of that agreement, Mr. Ueberroth was entitled to receive approximately $3m in cash (up to $6m in certain circumstances) compensation due in September 2009. In addition, he decided to forego his 2008 long-term compensation with a value of approximately $750,000 that was due per his contract in stock. Mr. Ueberroth offered to forego the compensation at a recent meeting of the Company's Board of Directors, and to work in any capacity that the Board decided would be in the best interest of the company.
