Press Release: The Moorings
July 10, 2002
CLEARWATER, FL -- Moorings' Chairman Arthur H. Warshaw has been named Chairman and CEO of Grand Expeditions, Inc.
Moorings' Executive Vice President Hans Birkholz was also named President and COO of Grand Expeditions, Inc. The
announcements were made today by The Moorings, the world's premier charter sailing company and a member of the
Grand Expeditions family of luxury travel companies.
Concurrently, The Moorings announced it has named Lex Raas President and COO of The Moorings. Raas had served as
The Moorings' Executive Vice President responsible for operations. He has a sailing and yacht-building career spanning
32 years and, since joining The Moorings, he has played an instrumental role in improving the financial performance
of the company, while building an operations team that truly delivers "The Best Sailing Vacations In The World."
Raas will work closely with Mike Schantz, Vice President and CFO, in leading the company's future growth and increased
profitability.
"The Moorings has tremendous people throughout the entire organization. I am confident that Lex and Mike with
the support of the entire organization will capitalize on the numerous opportunities open to them in the future,"
said Warshaw.
The Moorings was purchased by Grand Expeditions, Inc. in June 2001, then doubling the size of the travel provider.
The Moorings currently operates 25 bases and a fleet of 770 yachts around the world. The company offers vacationers
the option of sailing their own yacht "bareboat" chartering, or sailing with a captain and chef through
an all-inclusive "crewed yacht" package.
Grand Expeditions, Inc. manages a unique group of high-end vacation companies, which feature private jet expeditions,
nature walking journeys, safaris and Antarctica adventures. In addition to The Moorings, they operate Adventure
Network International, Country Walkers, International Expeditions, Park East, TCS Expeditions, Travcoa and Voyagers
International.
SOURCE: The Moorings