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Activist investor Elliott acquired over 10% of Norwegian Cruise Line, demanding leadership and strategy changes due to underperformance.
Activist investor Elliott Investment Management has acquired a stake exceeding 10% in Norwegian Cruise Line Holdings, prompting calls for a strategic overhaul amid underperformance relative to rivals Royal Caribbean and Carnival.
Elliott criticizes the company's leadership, particularly the appointment of John Chidsey, a former Subway CEO with no cruise industry experience, and is reportedly considering former Royal Caribbean executive Adam Goldstein as a board nominee.
The firm demands a full board review, improved financial discipline, and a new business strategy, citing a decade of missteps and a significant valuation discount.
The stock rose 6% following the news, as Elliott signals it may escalate to shareholders if changes aren't made.
El inversor activista Elliott adquirió más del 10% de Norwegian Cruise Line, exigiendo cambios de liderazgo y estrategia debido al bajo desempeño.