The NCL-FDR Purge continues......

http://www.seatrade-insider.com/news/news-headlines/key-ncl-operations-figures%E2%80%94sleipnes-myrtidis-swensen-weber%E2%80%94have-left.html?nspPage=1

More senior NCL senior personnel have been shown the door.

Of course now they have one person for Oceania, Regent and NCL...how convenient for them.

Of course now they have one person for Oceania, Regent and NCL...how convenient for them.

That's what happens when companies merge.

That's what happens when companies merge.

How is this called a merger ? The reports I read say NCL bought the smaller company. It was also stated that they would operate as separate companies, but that doesn't seem to be true.

You can thank Apollo and Star for the changes, they controlled all these companies before spinning off Norwegian and its IPO and still control most shares having all voting rights and decisions on their future.

It was also stated that they would operate as separate companies, but that doesn't seem to be true.

Perhaps that meant operating separately from the customer's perspective; i.e.; brand segregation...?

How is this called a merger ? The reports I read say NCL bought the smaller company. It was also stated that they would operate as separate companies, but that doesn't seem to be true.

Sounds more like an acquisition!

How is this called a merger ? The reports I read say NCL bought the smaller company. It was also stated that they would operate as separate companies, but that doesn't seem to be true.

Correct. What I meant was this. Since Norwegian Cruise Line Holdings acquired Prestige Cruises Intl. it appears they are merging top level management together. The individual brands may still operate as separate companies.

The morale for those left at NCL has got to be rock bottom waiting for the next shoe to drop.

Correct. What I meant was this. Since Norwegian Cruise Line Holdings acquired Prestige Cruises Intl. it appears they are merging top level management together. The individual brands may still operate as separate companies.

I don't see it the way you do.

When Sheehan took over a money hemorraging company from Vietch, he presented his ideas to top level management, took them into the team and successfully turned the company around.

Now, Del Rio takes over and comes in with his machete swinging and eliminates the long term employees-and--replaces them with his friends and family.

the companies may operate separately in name only, but the managers who control all three companies will implement their ideas into all three.

I hope NCL can survive this upheaval !!

If not ----- Last one out be sure to turn out the lights !!

I am so sad about all these changes i hope that ncl will survive through all these changes

I have seen some very stable old line companies destroyed by "slash and burn" management tactics. Those who manage in that style line their pockets and move on --leaving a trail of destroyed careers and lives.

I hope that is not the case here, but the indicators are not favorable.

Scary time at NCL head office. Bing Bong. Attention all NCL employees. This is your HR director speaking. Grab all your belongings and proceed to corporate office 4th floor for your muster drill. You may be sent home immediately with your pink slip after this exercise is over and done with.

I don't see it the way you do.

 

When Sheehan took over a money hemorraging company from Vietch, he presented his ideas to top level management, took them into the team and successfully turned the company around.

 

Now, Del Rio takes over and comes in with his machete swinging and eliminates the long term employees-and--replaces them with his friends and family.

 

the companies may operate separately in name only, but the managers who control all three companies will implement their ideas into all three.

 

I hope NCL can survive this upheaval !!

 

If not ----- Last one out be sure to turn out the lights !!

I really don't know how I see it. At this point it's all speculation. NCL will likely survive but there will probably be more changes. The cruise experience may be better or worse. It's too soon to know, but it will be likely be different.

.

So long as NCL continues to offer value added and affordable cruises, it's all good. What goes on at NCL head office stays at NCL head office.

So long as NCL continues to offer value added and affordable cruises, it's all good. What goes on at NCL head office stays at NCL head office.

It appears the "value added" and "affordable" aspects have been diminishing over recent weeks.

Most of the execs named in today's article have little or nothing to do with anything affecting the passenger experience. Marine operations, regulatory compliance, environmental compliance and the like are nothing you're even aware of as a passenger.

Did anyone notice that NCL's senior vps of hotels and new builds retained their jobs? These are the people who are going to have an effect on the passenger's on board experience.

Yes, in a merger of two companies in the same business with numerous duplicate functions and positions unfortunately people will get laid off...and the survivors will likely be the people who are better known by the person in charge...in this case Frank Del Rio.

By the way, although this was technically a sale because that (the public company NCL "acquiring" the privately-held PCH) was the easiest way to take PCH public, the reality is that the transaction was a merger of two companies with boards of directors both controlled by the same owners...Apollo and TPG.

Genting (Star Cruises) lost control of NCL when Apollo acquired 50% ownership of NCL on Jan. 7, 2008. The sale agreement included a provision that gave control of the board to Apollo despite Genting retaining 50% ownership (at that time) of the company. So, it's not Genting (Star) calling the shots here and hasn't been for for seven years...it's Apollo and its partner TPG.

Yes, in a merger of two companies in the same business with numerous duplicate functions and positions unfortunately people will get laid off...and the survivors will likely be the people who are better known by the person in charge...in this case Frank Del Rio.

Even better is being THE SON of the person in charge :rolleyes:

Most of the execs named in today's article have little or nothing to do with anything affecting the passenger experience. Marine operations, regulatory compliance, environmental compliance and the like are nothing you're even aware of as a passenger.

 

Did anyone notice that NCL's senior vps of hotels and new builds retained their jobs? These are the people who are going to have an effect on the passenger's on board experience.

 

Yes, in a merger of two companies in the same business with numerous duplicate functions and positions unfortunately people will get laid off...and the survivors will likely be the people who are better known by the person in charge...in this case Frank Del Rio.

 

By the way, although this was technically a sale because that (the public company NCL "acquiring" the privately-held PCH) was the easiest way to take PCH public, the reality is that the transaction was a merger of two companies with boards of directors both controlled by the same owners...Apollo and TPG.

 

Genting (Star Cruises) lost control of NCL when Apollo acquired 50% ownership of NCL on Jan. 7, 2008. The sale agreement included a provision that gave control of the board to Apollo despite Genting retaining 50% ownership (at that time) of the company. So, it's not Genting (Star) calling the shots here and hasn't been for for seven years...it's Apollo and its partner TPG.

The following quote from Seatrade Insider disputes your statements regarding the ownership of NCLH.

Mar 5, 2015 ... Genting HK is currently NCLH's largest shareholder, with a 25% stake.

Also in question is the reason behind Del Rio appointing his son to handle onboard revenue and other items. This reeks of nepotism.

In the past few days, Star (Genting) sold 6,250,000 shares of NCL stock which reduced their position from major shareholder to second behind Apollo.

Much of the information I have seen disputes what you are saying.

Even better is being THE SON of the person in charge :rolleyes:

For a private or family owned company, this is pretty much a given. But for a publicly traded corporation, I have to agree it's bad optic and flirting with risks.

Over my work career I have been on both ends of the buying/merger/hostile takeovers. In each case there were changes to take care of redundant positions. If you read the whole article, there were staff reductions in all of the companies. Does anyone know if del Rio's son was brought in from the outside, or was he already a VP with one of the other companies???

These things are not always conspiracies. No one knows what is going on at the executive level. Unless you want to cancel all of your cruises coming up, why not wait and see what really happens instead of supposing it is going to be a bloodbath? Most of these people don't have much direct bearing on the day to day cruisers.

In my previous post, I neglected to show that Genting AND ITS PARTNER TPG sold 6.250,000 shares of the stock. Per the article in Seatrade Insider.

This contradicts the statement that TPG was Apollo's partner.

Correct. What I meant was this. Since Norwegian Cruise Line Holdings acquired Prestige Cruises Intl. it appears they are merging top level management together. The individual brands may still operate as separate companies.

Exactly correct..

Jancruz1

Even better is being THE SON of the person in charge :rolleyes:

Frank Jr. has been in that position at Oceania and Regent for many years..

Jancruz1

Over my work career I have been on both ends of the buying/merger/hostile takeovers. In each case there were changes to take care of redundant positions. If you read the whole article, there were staff reductions in all of the companies. Does anyone know if del Rio's son was brought in from the outside, or was he already a VP with one of the other companies???

These things are not always conspiracies. No one knows what is going on at the executive level. Unless you want to cancel all of your cruises coming up, why not wait and see what really happens instead of supposing it is going to be a bloodbath? Most of these people don't have much direct bearing on the day to day cruisers.

Finally a voice of reason..if Kevin Sheehan was still there it would be the same blood bath just over at Regent and Oceania..and yes Frank Jr. has been in that position for years..as far as putting friends in..all of the Sr VPs at O and Regent have been there for years and many came originally from Silver Seas..in 2003

Jancruz1