United Kingdom
United States
Asia Pacific
Arison steps down as Carnival chief as revenues fall
Carnival announced Micky Arison is to give up the role of chief executive following a difficult 18 months which started with the sinking of the Costa Concordia in January last year.
Arison, who has been CEO since 1979, will remain as chairman while long-time board member Arnold Donald will take over as chief executive on July 3.
"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," Arison said in a statement.
Arison, whose father founded the cruise line, will remain its largest shareholder.
The company today announced almost a three-fold increase in second-quarter profits to $41 million following the sale of the Noordam, a ship operated by Holland America, one of its cruise lines.
However, revenue fell 1.7% to $3.48 million and Carnival’s projected earnings for the current quarter will fall between $1.25 and $1.33 a share as prices and advanced bookings for the remainder of 2013 are down year on year, although fleet-wide bookings for the next three quarters are ahead of last year at higher prices, excluding Carnival Cruise Lines.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike