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Two directors resign Norwegian Cruise Line Holdings board

Norwegian Cruise Line Holdings, which includes Norwegian Cruise Line and Prestige Cruises, is reducing its board to nine from 11
TPG's Karl Peterson and Apollo Global Management's Kevin Crowe resigned their director positions on Norwegian Cruise Line Holdings' board.

NCLH is eliminating the vacant seats created by their departures and reducing its board size to nine from 11. This enhances the indepence of its board, since TPG and Apollo are company stakeholders.

Peterson is senior partner of TPG and managing partner of TPG's European operations, and Crowe is a partner in Apollo Global Management's private equity division.

Apollo retains representation on the board via David Abrams, founder and partner of non-performing loans for Apollo Management International; Adam Aron, chairman and ceo of World Leisure Patners, a consultancy on travel, tourism and real estate that acts in partnership with Apollo Management; and Steve Martinez, head of Asia Pacific for Apollo Management.

Other directors are board chairman Walter Revell, chairman and ceo of Revell Investments; John Chidsey, former chairman and ceo of Burger King Corp.; Frank Del Rio; president and ceo of NCLH; Russell Galbut, managing principal of Crescent Heights; Chad Leat, retired vice chairman of global banking at Citigroup; and Bob Salerno, former vice chairman, president and chief operating officer of Avis.

Revell thanked the departing directors for their 'strong leadership and significant business guidance.'

He noted that during Peterson and Crowe's time on the board, the company achieved several key milestones, including the launch of its most innovative new ships and the successful acquisition and integration of the Prestige Cruise Holdings brands.