Joseph A. Watters has served as a director of our company since October 2005. Mr. Watters has served as Chairman of Oceania Cruises since its inception in January 2003 until 2007. Oceania Cruises, a five-star cruise line, is considered the best in class for traditional premium and luxury category cruisers. During his almost 30 years in the cruise industry, Mr. Watters served as President and Chief Operating Officer of Crystal Cruises, President of Royal Viking Line, and President of Princess Cruises. Mr. Watters also founded The Watters Group, an upscale international travel organization that operated all hotel and shore excursion programs for Royal Viking Line.