Norwegian Cruise Line Holdings’ (NCLH) year-end and fourth quarter earnings call is set for Monday, when a new President and CEO who has been on the job for approximately two weeks will have to speak for the first time, and in response to activist investor Elliott Management who is demanding major changes at the company.

Former President and CEO Harry Sommer was abruptly replaced by new President and CEO John Chidsey on February 12, and days later, Elliott Management issued a letter and 50-plus page presentation, pointing out what it said are problems at the company and demanding changes.

The hedge fund also revealed it had taken a stake of more than 10 percent of the company.

For Chidsey, the call presents an opportunity to respond to Elliott and comment on whether he sees the same diagnosis.

He could use the call to spin the Elliott agenda, known as Norwegian Now, as opportunity instead of pressure.

James Hardiman, Citi leisure analyst, mentioned in a recent note that the CEO departure was a tell, as he said that NCLH’s outgoing boss was “unlikely to have been ousted two weeks before the 4Q earnings announcement if 2026 trends were shaping up as planned.”

NCLH is scheduled to report earnings before market open on March 2, with an hour-long earnings call scheduled for 8 a.m. eastern.

There is also the question about potential board changes, and Adam Goldstein, former president and CEO of Royal Caribbean International, has also surfaced, agreeing with Elliott Management and potentially being in play for a board seat.

Company executives are expected to speak for about 20 to 25 minutes before opening the call to questions.