Norwegian Cruise Line Holdings Ltd. has overhauled its Board of Directors, appointing five new members as part of a cooperation agreement reached with outspoken activist investor Elliott Investment Management L.P.
Effective Tuesday, March 31, 2026, the following individuals will join the board as independent directors:
- Alex Cruz, former Chairman and CEO of British Airways
- Kevin A. Lansberry, former EVP and CFO of Disney Experiences
- Steve Pagliuca, former Managing Partner and Co-Chairman of Bain Capital
- Brian P. MacDonald, President and CEO of CDK Global
- Jonathan Z. Cohen, Founder, CEO and President of Hepco Capital Management LLC
President and CEO John W. Chidsey has been appointed Chairman and Cruz has been appointed Lead Independent Director.
Meanwhile, current board directors Stella David, David M. Abrams, Harry C. Curtis and Mary E. Landry have announced their resignations as the company takes on a new vision.
"On behalf of the entire Board, I thank Stella, David, Harry and Mary for their years of dedicated service to the Board and to shareholders, as well as their meaningful contributions to the Company’s development," Zillah Byng-Thorne, Chairperson of NCLH’s Nominating and Governance Committee, said in a statement. "We respect and appreciate their decision to step down at this time in the best interest of the Company and its shareholders. Their experience and insights were very beneficial as the Company pursued strategic growth initiatives and navigated changing industry conditions."
"As part of our ongoing Board recruitment process and with input from Elliott, we are pleased to welcome our new directors," added Byng-Thorne. "Each brings a fresh perspective and valuable expertise befitting a leading company like NCLH. Looking ahead, the Board remains committed to enhancing shareholder value and overseeing improved execution by our new management team."
"We are moving with urgency to strengthen the business and enhance execution," said Chidsey. "There are significant opportunities to deliver stronger performance and sustainable value for our shareholders. Our award-winning brands, loyal guests and dedicated team form a strong and enduring foundation, and I look forward to working closely with our Board to build on that foundation as we continue delivering exceptional vacation experiences for our guests around the world."
"As NCLH's largest investor, we see the potential for significant value creation ahead under John’s leadership, and we believe the experience and credibility of this newly appointed Board will help restore investor confidence and return the Company to best-in-class financial performance," Elliott Partner John Pike and Portfolio Manager Bobby Xu said in a statement.
"We are encouraged by our constructive engagement with John and we look forward to working with him and the rest of the Board as they drive the changes necessary to meaningfully improve operational execution and capitalize on the substantial opportunities at NCLH," the duo concluded.
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