The Norwegian Cruise Line Holdings announced on Friday that it had signed an agreement with Elliott Investment Management, and appointed five new directors in a major board reshuffle.

Elliott Investment Management - one of the largest shareholders in the cruise company - said earlier this month that the cruise company needed new directors after reporting lower profits and a disappointing forecast for 2026.

Kevin Lansberry and Alex Cruz, the former chief executives of British Airways, are amongst the new directors.

Elliott Management partner John Pike said, "We believe that the experience and credibility of this newly appointed board will restore investor confidence?and return to the company's best-in class?financial?performance."

The 'hedge fund', which manages assets worth $80 billion, revealed a 10% stake last month and criticized the management choices made by the board over the past decade. (Reporting by Sanskriti Shekhar in Bengaluru; Editing by Tasim Zahid)

(source: Reuters)