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Carnival Corporation & Plc To Split Roles Of Chairman And CEO

Stocks in this article: CCL CUK

"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," said Arison.  "Arnold is an exceptional professional with extensive experience in organizational leadership who will bring a fresh perspective to the company.  I have come to value and rely on his judgment and insight during the 12 years he has served on the company's board and I am very confident in his ability to move the organization forward." Arison added, "As chairman, I will still be working closely with Arnold to ensure a great future for all our stakeholders."

Donald's expansive career includes numerous global leadership roles including a large publicly traded company, private equity firms, governmental appointments and large not-for-profits as well as serving on boards of directors on companies across many business sectors.  He has a strong working knowledge of the cruise business gained through 12 years serving on the Carnival board.  Donald founded and led Merisant, a company whose products include tabletop sweetener brands Equal and Canderel.  He also held multiple senior management roles at Monsanto over the course of 20-plus years, including president of the company's consumer and nutrition sector and president of its agricultural sector.  Additionally, Donald is former president and CEO of the Executive Leadership Council, a professional network and leadership forum for African-American executives of Fortune 500 companies.  Donald has also held roles within a number of civic and charitable organizations including serving as president and CEO of the Juvenile Diabetes Research Foundation International.  Donald also currently serves on the board of Bank of America Corporation.  He will continue to serve on Carnival's board of directors but will relinquish his committee roles.

"I am honored and privileged to have this opportunity to lead the next stage of growth for Carnival Corporation & plc," said Donald. "As a board member, I have come to know Micky, Howard and the company well.  I have a 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. I have enormous respect for Micky as a visionary in our industry, and as the builder and leader of Carnival.  I have come to know many of the talented professionals who work within Carnival during my time on the board and I look forward to working with the company's many stakeholders including our 90,000 employees, 10 million guests, thousands of travel agent partners, vendors and shareholders around the globe."

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