Norwegian Cruise Line Holdings is changing its finance leadership at the start of 2027. Mark Kempa will leave the chief financial officer role at year-end and serve as a special adviser to the CEO for six months, while current Chief Strategy Officer Meghan Montana takes over as CFO on Jan. 1.
Montana’s appointment is accompanied by a new employment agreement that sets her pay, bonus eligibility and protections if her employment ends under specified circumstances.
Key details
-
Leadership transition: Kempa will remain executive vice president and CFO through Dec. 31, 2026. Montana, who has been NCLH’s chief strategy officer since January 2026, becomes executive vice president and CFO on Jan. 1, 2027.
-
Montana’s background: Before joining NCLH, Montana held finance and corporate development roles at American Airlines, including senior treasurer positions. Earlier, she worked in banking at Standard Chartered, Deutsche Bank and Royal Bank of Scotland. She has served on the board and audit committee of aircraft-leasing company Azorra since 2023.
-
Montana’s compensation: Her new agreement provides an annual base salary of $875,000, subject to annual review, and eligibility for an annual bonus set by the board’s Compensation Committee. Her 2026 bonus will be determined under her existing agreement. She will also be eligible for company equity awards, subject to committee approval.
-
Sign-on payments: The agreement carries forward a $1.55 million sign-on bonus arrangement: $750,000 was paid after she joined in January 2026, with two further $400,000 payments scheduled after March 1, 2027, and March 1, 2028. The additional payments are conditional on continued employment through their respective dates. The agreement says the first two installments are subject to repayment if her employment ends before Jan. 20, 2028, except in specified cases such as termination without cause, resignation for good reason, or death or disability.
-
Agreement term: Montana’s new agreement runs through Dec. 31, 2030, then renews automatically for successive one-year periods unless either side gives at least 60 days’ notice of non-renewal. It takes effect Jan. 1, 2027; until then, she remains chief strategy officer under her current arrangements.
-
Severance and equity protections: If NCLH ends Montana’s employment without cause, declines to renew her agreement, or she resigns for good reason, she is eligible for severance equal to twice her then-current base salary, a prorated bonus for the year of departure, any earned unpaid prior-year bonus, and subsidized medical and dental coverage for up to 18 months. If such a departure occurs within three months before or 24 months after a change in control, her outstanding equity awards would fully vest.
-
Retirement provisions: If Montana meets the agreement’s retirement and notice conditions and works through an agreed retirement date, she may receive specified vesting treatment for eligible equity awards, a prorated bonus, continued executive-level cruise benefits and subsidized medical and dental coverage for up to 18 months.
-
Kempa’s advisory period: From Jan. 1 through June 30, 2027, Kempa will receive gross monthly salary of $3,200 and continue participating in applicable benefit plans. He will retain President-level cruise privileges but not a car allowance. He remains eligible for his 2026 bonus.
-
Kempa’s equity during the transition: In early January, he is due to receive 33,000 time-based restricted share units instead of a prorated 2027 bonus. Those units vest on June 30, subject to continued service. His existing equity awards continue to vest under their current terms, and he will receive no other new equity grants.
Plain-English implications
The CFO handoff is an internal succession: Montana moves from strategy chief to finance chief, while Kempa remains with NCLH in an advisory capacity for six months after leaving the CFO post. Montana’s agreement establishes a multi-year employment term and defines compensation and benefits for specified departures, including additional equity protection in certain change-in-control circumstances.