Norwegian Cruise Line Has New President

Norwegian Cruise Line Holdings has named Frank Del Rio president and CEO, succeeding Kevin Sheehan (pictured), who has decided to leave the company.

Del Rio is CEO of Prestige Cruises International, the holding company for Regent Seven Seas Cruises and Oceania Cruises. He founded Oceania after leaving Renaissance Cruises.

In a statement, Steve Martinez, a member of Norwegian’s board of directors, said, “Frank Del Rio has established himself as a leader and innovator in our industry. Norwegian is poised for continued growth and we are delighted to have Frank lead our team during the next phase of the company’s evolution. We also thank Kevin Sheehan for his service to the company. Kevin has built Norwegian into the highly successful company it is today – a company that has reported 25 consecutive quarters of growth in trailing 12 month Adjusted EBITDA coupled with consistent margin improvement. Most recently, Kevin was integral to the Prestige acquisition, assembling a diversified portfolio of brands that spans all market segments in the cruise industry, which we believe puts the company in a strong position for the future.”

Sheehan commented, “It has been a privilege to lead Norwegian over the last seven years. I am proud of what we have accomplished, and take comfort in the knowledge that I am leaving the company much healthier and stronger than when I joined. With the company set for success, I hand the baton off to Frank, a proven leader in the cruise industry.”