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ICE Announces Executive Transition Plan

International Cruise & Excursions Announces Executive Transition Plan

The Board of Directors of International Cruise & Excursions, Inc. (ICE) has announced an executive transition plan, in which Brian Fontana, President and Chief Financial Officer, has been named Interim Chief Executive Officer, effective immediately.  John Rowley, CEO, and Marcia Rowley, COO, will both retire from their management roles.  Both Mr. and Mrs. Rowley will continue their relationships with ICE as members of the Board of Directors, and Mr. Fontana will maintain responsibility for the finance function as CFO.

ICE’s Board of Directors is currently conducting a search for a permanent CEO with the assistance of nationally recognized search firm Spencer Stuart.

“On behalf of the full Board, I would like to thank John and Marcia Rowley for their significant contributions to International Cruise & Excursions since they founded the company more than 20 years ago.  Thanks to their vision and leadership, ICE has become a leader in the travel and leisure space,” said Marty Cole, Chairman of ICE.  “The Board is now taking this opportunity to recruit a world-class leader to guide ICE through its next phase of growth.  In the meantime, Brian has the right business experience and inside knowledge of the company to lead us as we continue to execute against our strategy.  He and the entire management team have the full confidence of the Board.”

Brian brings more than two decades of corporate and financial experience with high-growth businesses across industries, including retail, business services, software development, manufacturing, and technology infrastructure.  Prior to joining ICE, he served as CFO of KW International and INX, Inc. and as Executive Vice President & CFO of AFGlobal Corporation.  Brian’s corporate experience includes leadership roles with both publicly-traded and private-equity owned international businesses.  Additionally, Brian has extensive experience managing different types of business transactions, acquisitions, integrations, and ERP implementations.

“The Rowleys have built an impressive company over the past twenty years with a strong foundation.  ICE’s ability to offer our customers complete travel and leisure-based loyalty solutions continues to create attractive growth opportunities for us,” said Mr. Fontana.  “I look forward to continuing to work closely with ICE’s talented team and our Board of Directors to pursue these opportunities during the transition.”

“Today, ICE is a true leader in its space.  Looking ahead, there is significant opportunity for ICE to grow with its existing customers, onboard new customers across a range of different markets, further penetrate international markets, and broaden its offerings through designing new products and technology enhancements,” said Andrew Olinick, Partner of 3i Group and a member of ICE’s Board of Directors.  “All of us at 3i look forward to continuing to support the growth and expansion of this great business.”