The official word from the company is that Nolde resigned as chairman of MS Deutschland Beteiligungsgesellschaft, Deilmann’s parent company after it failed to meet turnover growth targets and entice more passengers on board its only ship, the 22,500-gt Deutschland (built 1998).

The company says it will continue to work on restructuring efforts with its main shareholder, German private equity group Callista, which specializes in acquiring and turning around struggling companies.

Nolde