Cruising for Trouble: Activist Investor Elliott Chastises Norwegian Board for CEO Picks

It’s anything but smooth sailing for Norwegian Cruise Line and its new CEO. The company, which has struggled recently to keep up with rivals like Royal Caribbean and Carnival, announced last week that former Subway Restaurants chief executive John Chidsey was taking over as CEO, effective immediately. Stocks fell more than 7% on Friday after the news, and that wasn’t the worst of it. On Tuesday, activist investor Elliott Investment Management, which says it now holds a stake of more than 10% in Norwegian ...