Feb. 18 at 4:02 PM
Elliott Investment Mgmt has taken a more than 10% stake in
$NCLH citing concerns about mgmt & overspending on events including a Katy Perry concert.
Elliott said in a statement that the board’s succession decisions have weighed on shareholder value and questioned the recent appointment of a long-tenured board member without cruise-industry executive experience, calling for a more rigorous process.
Additionally, Elliot says that the company’s outlays have failed to create shareholder value - Elliott pointed to what it described as questionable spending, including flying guests to Reykjavik, Iceland, hosting a concert by pop star Perry & curating fine art experiences at sea, while the stock has lagged peers
Since the start of 2023, Norwegian shares have risen +97% thru Tuesday’s close, lagging gains of +305% at
$CCL & +555% at
$RCL over the same period
