By
Rebecca Gibson |
Long-serving board member Arnold Donald will take over from Micky Arison as CEO of Carnival on 3 July.
Arison, who has been Carnival’s CEO since 1979, will continue as company chairman, providing board-level oversight for the company and remaining its largest shareholder. This is the first time the company will be splitting the roles of chairman and chief executive officer.
Donald has been on Carnival’s board of directors for 12 years and has held a range of global leadership roles across various business sectors. In his role as CEO, Donald will lead the executive team and work directly with the operating brand executives to focus on achieving the company's long-term strategic goals.
He will be supported by Howard Frank, who will remain in his current role as vice chairman and COO and work with the corporate-level executive team.
“I am honoured and privileged to have this opportunity to lead the next stage of growth for Carnival,” said Donald. “As a board member, I have first-hand appreciation of what it has taken to develop this highly successful business, an understanding for the dynamics and challenges we face, and a great deal of confidence in the company’s management team and their ability to execute.”
Commenting on the restructure, Arison said: “I have been discussing this with the board for some time now and feel the timing is right to align our company with corporate governance best practices and turn over the reins after 34 years as CEO. Arnold Donald is an exceptional professional with extensive experience in organisational leadership who will bring a fresh perspective to the company.”
After becoming CEO of the company, Arison initiated an expansion project and acquired several iconic cruise brands including Holland America Line, Costa Cruises, Cunard and Seabourn. In 2003, Carnival merged with P&O Princess Cruises – comprised of Princess Cruises, P&O Cruises UK, P&O Cruises Australia and German cruise brand AIDA – and became the first global cruise operator. The company also introduced a series of new ships.
Under Arison’s leadership, Carnival became a public company and now operates more than 100 ships, carrying ten million passengers a year and generating more than US$15 billion in annual revenues.