Activist investor Elliott Investment Management stated on Monday that there was an urgent need to re-energize the board of Norwegian Cruise Line Holdings after the cruise operator forecasted a muted profit for 2026.

The investor has criticized management decisions made by the board over the past decade, and in particular, the recent appointment of John Chidsey as the new CEO.

The company redoubled its criticism of Norwegian Cruise after the cruise line missed their quarterly revenue targets earlier today. It also warned that rising fuel prices due to geopolitical uncertainty would put pressure on profits this year. It said that some missteps in execution had also 'contributed' to the weaker bookings.

In a press release, Elliott, one of the top investors in the company, stated that the "commentary" on today's earnings conference call confirmed a troubling trend of execution lapses, and strategic mistakes across the business, which have been years developing.

Norwegian Cruise Line Holdings didn't immediately respond to an inquiry for comment.

The 'company' has been lagging behind its competitors in recent years. Its shares fell 13% in 2025 compared to a 20% increase at rivals Royal Caribbean and Carnival.

Elliott had approached former Royal Caribbean president and operating chief Adam Goldstein to be a possible board nominee. This was reported by sources in February. (Reporting by Juveria Tabassum in Bengaluru; Editing by Shinjini Ganguli)

(source: Reuters)