Elliott Takes Major Stake in Norwegian Cruise Line

Activist investor Elliott Investment Management has built a stake of more than 10 percent in Norwegian Cruise Line Holdings and could soon seek changes at the company, according to a report by the Wall Street Journal.

The development follows recent leadership changes at NCLH, which announced last week that CEO Harry Sommer had stepped down, with board member John W. Chidsey assuming the role.

Only days later, the company revealed a new shipbuilding agreement, confirming an order for three vessels. The deal includes one new ship for each of NCLH’s brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With this addition, the group’s forward orderbook now stands at 17 ships.

The Wall Street Journal also reported that Adam Goldstein, former president and CEO of Royal Caribbean International, may be under consideration for a position on NCLH’s board. The report noted that Elliott has already been working with Goldstein, though no further details were provided.

Attention is now turning to March 2, when Norwegian Cruise Line Holdings is scheduled to release its fourth-quarter and full-year financial results, followed by an earnings call with Wall Street analysts.

Elliott Investment Management did not immediately comment on the report when contacted.