Norwegian Cruise Line appoints five new directors, reaches deal with Elliott

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) announced the appointment of five new independent directors to its board and entered into a cooperation agreement with Elliott Investment Management L.P., according to a company statement.

The new directors, effective March 31, 2026, include 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; and Jonathan Z. Cohen, Founder, CEO and President of Hepco Capital Management LLC.

John W. Chidsey, President and CEO, has been appointed Chairman, while Alex Cruz will serve as Lead Independent Director. Four current board members—Stella David, David M. Abrams, Harry C. Curtis and Mary E. Landry—announced their resignations effective March 31, 2026.

Following these changes, the board will comprise nine members, eight of whom are independent. The company's slate for its 2026 Annual General Meeting will consist of directors Zillah Byng-Thorne, Linda P. Jojo and Alex Cruz.

Under the cooperation agreement, Elliott agreed to customary standstill and voting commitments. The full agreement will be filed on Form 8-K with the U.S. Securities and Exchange Commission.

"As NCLH's largest investor, we see the potential for significant value creation ahead under John's leadership," said Elliott Partner John Pike and Portfolio Manager Bobby Xu in the statement.

Norwegian Cruise Line Holdings operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises with a combined fleet of 35 ships and nearly 75,000 berths. The company offers itineraries to approximately 700 destinations worldwide.

Goldman Sachs & Co. LLC served as financial advisor to the company, with Paul Hastings LLP as legal counsel and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor.

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