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Norwegian Cruise Line
has named Kevin Sheehan as its new CEO, replacing Colin Veitch, who
held the slot since 2000. Sheehan, who before being named to the new
post was president and CFO of NCL, will continue in those capacities
as well.
Prior to joining NCL, Sheehan served as chairman and CEO of Cendant
Corp.'s vehicle services division, overseeing several companies,
including Avis and Budget. Now, he is tasked with leading the
"freestyle cruising line" through an economic morass, not unlike the
one post-9/11.
In his favor, NCL reported a third-quarter profit of $171 million,
compared to the same time last year, when it reported a loss of $8.6
million.
Also, NCL named Andy Stuart executive vice president, global sales
and passenger services. Stuart previously was in charge of those
areas, but during the past six months, he has worked as executive
vice president and chief product officer, directing the expansion
and upgrade of the "freestyle" concept.
Sheehan's appointment is another in a growing list of moves NCL has
made since its 50-percent acquisition by Apollo Management last
January. The line also redeployed two of its Hawaii ships to Europe.
"We are extremely pleased with the revenue performance achieved in
the [third] quarter and the significant improvement in our
profitability," Sheehan said in a statement. "Our Hawaii operation
is now profitable, the growth of our international fleet has had a
very positive impact."
Sheehan also jumps in at a time when the line is in disagreement
with Aker Yards in France over the construction of two NCL F3 ships;
the dispute stemming from the cost of building. See news article -
NCL |