| NCLH’s board shake-up

FOUR Norwegian Cruise Line Holdings (NCLH) directors have agreed to resign and have been replaced by new independent members, following pressure from activist shareholder Elliott Investment, with CEO John Chidsey as chairman.

Former chairperson Stella David, plus board members David Abrams, Harry Curtis and Mary Landry have all stepped down, with a slew of execs taking their places, including former British Airways CEO Alex Cruz, who will serve as lead independent director; former Disney Experiences CFO Kevin Lansberry; former managing partner of Bain Steve Pagliuca; and Hepco Capital Management LLC founder, CEO and president, Jonathon Cohen.

Elliott unveiled its more than 10% stake in the cruise line last month, and called for a board overhaul after the company reported underperforming profits and poor outlook for 2026 (CW 19 Feb).

The major cruise line has a market value of roughly $US 8.6 billion (A$12.5 billion) and its stock price has fallen nearly 30% in the last five years, while competitor Royal Caribbean Cruises’ stock price has surged 211% in the same period.

“We are moving with urgency to strengthen the business and enhance execution,” said Chidsey, who was appointed president of the line in Feb.

“There are significant opportunities to deliver stronger performance and sustainable value for our shareholders.” JHM

Pictured: Norwegian Luna was christened in Miami last week, the latest ship to join the line’s Prima-class fleet.