Newport Beach-based Ambassadors International Inc. said Wednesday it’s selling off businesses to focus on cruises and is moving its headquarters to Seattle.
The company said it plans to move in the next several months.
Ambassadors operates riverboat, Alaska, Hawaii, Mediterranean and Caribbean cruises.
The company also provides construction, consulting and operational services to marina owners and puts together incentive trips for companies to reward salespeople.
Ambassadors has hired Little Rock, Ark.-based investment bank Stephens Inc. to sell all but the company’s cruise business.
Stephens also could help Ambassadors raise money or refinance debt.
The company also said Art Rodney, a 30-year cruise veteran, would replace Chief Executive Joe Ueberroth as chairman.
Ueberroth said last year that he also planned to step down as chief executive.
As part of the move to Seattle, all of the company’s current executive team will be “transitioning out,” according to Ambassadors.
A chief executive search is ongoing.
The Seattle move ends the long reign of the Ueberroths at the cruise and travel services company, which has struggled for the past year or so.
Ueberroth is the son of Peter Ueberroth, former chairman of the U.S. Olympic Committee.
Peter Ueberroth also is a former Ambassadors chairman.
Joe Ueberroth took over Ambassadors in 2003 from uncle John Ueberroth.
The company was an outgrowth of International Ambassador Program Inc., a company bought by brothers Peter and John Ueberroth in 1993 to offer educational travel programs for students and professionals.
