Ambassadors International elected three new board members and two have resigned, bringing the board total to five.
In connection with Ambassador’s recently completed exchange offer, each of the counterparties to the three exchange offer commitments designated a nominee to serve on the company’s board of directors. At a board meeting Wednesday, all three nominees were elected.
Eugene Davis, who will also serve as chairman, Stephen McCall and John Bianco are all now board members.
Ambasadors CEO Art Rodney and Daniel Englander will remain on the board, while Rafer Johnson and J. Hale Hoak have resigned.
"The resignations did not relate to any disagreement with the company," Ambassadors stated.