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Get filing alertsHGV appoints Carnival Cruise Line president Christine Duffy to board as Apollo cuts stake
Filed July 2, 2026 · Period ending July 2, 2026 · ~1 min read
Key Changes
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Apollo-designated director David Sambur resigned after Apollo's June 4 public offering reduced its board rights from two seats to one; Christine Cahill remains as Apollo's sole designee.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Christine Duffy, president of Carnival Cruise Line with 30+ years in travel and hospitality, appointed to fill the vacancy effective July 2, 2026.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Board chairman cited Duffy's experience leading global hospitality businesses and driving operational excellence as strengthening the company's growth capabilities.
Exhibit 99.1 view on EDGAR →
Summary
Hilton Grand Vacations reshuffled its board following Apollo Global Management's continued divestment. David Sambur resigned effective July 2, 2026, after Apollo's June 4 public offering reduced the firm's ownership stake enough to trigger a contractual reduction in board designation rights from two seats to one under the 2021 stockholders agreement. Christine Cahill remains as Apollo's sole board representative.
The filing explicitly states Sambur's departure involved no disagreement with company operations or policies. The company immediately filled the vacancy with Christine Duffy, president of Carnival Cruise Line, who brings over three decades of travel and hospitality leadership.
Chairman Len Potter highlighted her operational and commercial expertise as valuable for delivering long-term growth and enhanced member experiences. The appointment reflects a governance transition as Apollo monetizes its investment and the board adds independent hospitality expertise. Duffy will serve until the 2027 annual meeting with standard non-employee director compensation; committee assignments are pending.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Hilton Grand Vacations Inc. (NYSE:HGV), the premier vacation ownership and experiences company, today announced the appointment of Christine Duffy to its board of directors.
The company appointed Christine Duffy to its board of directors. Duffy is president of Carnival Cruise Line and brings over 30 years of leadership experience in the travel and hospitality industry, with expertise in operations, commercial strategy and customer engagement.
Added in current filing · view on EDGAR →
“We are pleased to welcome Christine to our board of directors,” said Len Potter, chairman of Hilton Grand Vacations’ board of directors. “Christine’s extensive experience leading global hospitality businesses and driving commercial and operational excellence will be a valuable addition to our board. Her perspective will further strengthen our ability to deliver long-term growth and enhanced experiences for our Members and guests.”
The board chairman stated that Duffy's experience leading global hospitality businesses and driving commercial and operational excellence will strengthen the company's ability to deliver long-term growth and enhanced experiences for members and guests.
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Effective as of July 2, 2026, Mr. David Sambur resigned from the board of directors (the “Board”) of Hilton Grand Vacations Inc. (the “Company”) in accordance with the terms of the stockholders agreement, dated as of August 2, 2021, by and among the Company, certain investment funds and vehicles managed by affiliates of Apollo Global Management, Inc. (together with its subsidiaries, the “Apollo Investors”), and Hilton Worldwide Holdings Inc. (the “Stockholders Agreement”)
David Sambur resigned from the Board effective July 2, 2026, pursuant to the stockholders agreement with Apollo Global Management. The resignation followed Apollo's June 4, 2026 public offering that reduced their ownership stake and corresponding board designation rights from two directors to one. The filing explicitly states the resignation is not due to any disagreement with the Company's operations, policies or practices.
Added in current filing · verify on EDGAR →
As a result of the June 4, 2026 underwritten public offering and sale by the Apollo Investors of a portion of the shares of common stock of the Company that they owned, the Apollo Investors’ right to designate directors to the Board pursuant to the Stockholders Agreement decreased from two (2) to one (1). Ms. Chrstine Cahill, the other director designee of the Apollo Investors, will continue to serve on the Board.
Apollo Global Management's board designation rights decreased from two directors to one following their June 4, 2026 public offering that reduced their ownership stake. Christine Cahill remains as Apollo's sole board designee. This reflects Apollo's reduced influence over company governance as they monetize their investment.
Added in current filing · verify on EDGAR →
Effective immediately upon Mr. Sambur’s resignation, the Board appointed Ms. Christine Duffy to fill the vacancy created by Mr. Sambur’s resignation. Ms. Duffy will serve until the 2027 annual meeting of the Company’s stockholders or until her successor is duly elected and qualified.
Christine Duffy was appointed to the Board effective July 2, 2026 to fill the vacancy created by Sambur's resignation. She will serve until the 2027 annual meeting and will receive standard non-employee director compensation. Committee assignments have not yet been determined.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify