Another day, another top management change at Norwegian Cruise Line Holdings Ltd. (NCLH). This time, Andy Stuart, a long-time, popular sales executive, moves into the top spot at Norwegian Cruise Line.
Stuart was named president and chief operating officer, replacing Drew Madsen, a former chain restaurant executive who joined Norwegian in that role just six months ago. The press release said Madsen resigned.
"Given the recent restructuring of the role and job responsibilities, Drew has decided to step down. We thank him for his contributions and wish him well," said Frank Del Rio, president and CEO of NCLH. "As we continue to build the newly merged organization, we are tapping into the tremendous company and industry knowledge that Andy has, along with the strong relationships he has built with our travel partners."
Stuart has been with Norwegian Cruise Line since 1988 and has held a number of leadership positions, most recently executive vice president of sales.
"Andy and Norwegian are virtually synonymous," Del Rio said. "He is very well known and respected by our guests, travel partners, officers, crew, and team members. I am extremely confident that he is the perfect leader for the next phase of Norwegian's growth."
Stuart will report to Del Rio. His annual base salary will be $650,000, according to an SEC filing.
Stuart has been instrumental in building the Norwegian brand, going back to the days when the company introduced the then-revolutionary Freestyle Cruising. A popular executive with travel agents, he greatly strengthened the relationship with the introduction of Partners First.
"Having seen Norwegian Cruise Line grow significantly during the course of my career, I am thrilled and proud to lead this incredible company as we continue to enhance and build the brand," Stuart said. "The future is extremely bright, and I am looking forward to continuing to work with our travel partners through our expanded sales team, delivering an exceptional product to our guests in conjunction with our hard-working officers and crew and ensuring that our team members are motivated and engaged, all the while building value for our shareholders."
During his 27-year tenure with the company, he has held responsibility for a number of key areas including global sales, passenger services, revenue management, marketing and public relations. He also served as chief product officer, responsible for delivery of the Freestyle Cruising product across the Norwegian fleet.
NCLH bought Prestige Cruises International, parent of Oceania Cruises and Regent Seven Seas Cruises, in mid-November. Since then, a number of top executives have left, changed positions or returned.
Most notably, Frank Del Rio, the former CEO of Prestige, replaced Kevin Sheehan as CEO of NCLH in January, after Sheehan had begun assembling his management team. Del Rio then began forming his own team, which included several executives who have worked at his side for years, some since the days he co-founded Oceania Cruises in 2002.
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