Bob Binder, the co-founder of Norwegian Cruise Line Holdings' Oceania Cruises, has stepped down as the brand's president and chief executive after serving five years in the role.
Howard Sherman, Norwegian's executive vice-president of onboard revenue and destination services, will become Oceania's president and chief executive on 1 January.
Binder, who has also been Oceania's and Regent Seven Seas Cruises' vice-chairman since 2015, will become a Norwegian vice-chairman reporting to the parent company's president and chief executive Frank Del Rio.
Ross Henderson, Norwegian's senior vice president of onboard revenue and destination services, will take on Sherman's former role as executive vice-president on 1 January.
Norwegian acquired Prestige Cruises International — parent of Oceania and Regent Seven Seas — in 2014 for $3bn.
Before Norwegian bought Prestige, Binder had served as that company's vice-chairman since May 2011 and its president since January 2008.
"Since co-founding Oceania Cruises in 2002, it has been my extraordinary privilege to witness its evolution into the world's leading culinary- and destination-focused cruise line," Binder said.
"I look forward to continuing to champion the line’s future success as I remain with the company in my new role."
Norwegian is "extremely grateful" for Binder's leadership as Oceania chief executive and is confident that Sherman will continue to elevate the brand as it starts expanding its fleet in 2023, Del Rio said.
"Bob has played a critical role in all of Oceania Cruises' tremendous achievements over the past two decades," he said.
Sherman has been Norwegian's executive vice-president of onboard revenue and destination services since September 2016 and was executive vice-president of revenue management from February 2015 to September 2016.
Before Prestige's acquisition, Sherman held various executive roles at Prestige from 2003 to 2014.
Before joining Norwegian in 2009 as vice-president of onboard revenue, Henderson spent six years managing key onboard revenue departments and analytics for Princess Cruises.
"The promotions of Howard and Ross are a testament to our ability to leverage the considerable bench strength across our organisation," Del Rio said.
