Arison steps aside as Carnival CEO

 
 
The Miami-based company also announced Tuesday that Micky Arison, who has been CEO since 1979 and is the son of Carnival co-founder Ted Arison, is being replaced by Arnold W. Donald, who has served on the company's board for the past 12 years. Arison will continue to serve as chairman of the board.
The Miami-based company also announced Tuesday that Micky Arison, who has been CEO since 1979 and is the son of Carnival co-founder Ted Arison, is being replaced by Arnold W. Donald, who has served on the company's board for the past 12 years. Arison will continue to serve as chairman of the board.
CHARLES TRAINOR JR / MIAMI HERALD STAFF

hsampson@MiamiHerald.com

After 34 years at the helm of the company his father Ted founded, Micky Arison is stepping down as CEO amid a change in the way Carnival Corp.'s leadership is structured.

The role of Chairman and CEO will be split and Arison, who turns 64 Saturday, will hand over the CEO job to longtime board member Arnold Donald, a businessman from St. Louis.

The move comes in the midst of major changes at the world's largest cruise ship company, which has been in damage control mode on and off since the January 2012 shipwreck of the Costa Concordia. This year, the disabling fire aboard the Carnival Triumph has taken a major toll on the company’s earnings, and Carnival revealed Tuesday that it believes the brand might not recover for as many as three years.

Carnival still reported a profit of $41 million for the second quarter of the year, but said cumulative advance bookings for the rest of the year are slower than last — and at lower prices. Revenue fell 1.7 percent to $3.48 billion. The company owns 10 brands, including Carnival Cruise Lines, Holland America Line, Princess Cruises and Costa Cruises.

Arison came under fire after the Concordia wreck and Carnival Triumph incident for not being more visible during the crises and leaving the public comments to the heads of individual brands.

Donald, 58, said in an interview Tuesday that he believes that approach is generally sound.

“There will be times when there needs to be the corporate face, and I’m well prepared to do that, but frankly, I think our brands are very strong unto themselves and I don’t see much deviation,” he said.

Donald founded and led Merisant, a company whose products include 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. More recently, he was president and CEO of the Juvenile Diabetes Research Foundation International and held the same job at the Executive Leadership Council, a forum for African-American executives of Fortune 500 companies.

This report was supplemented with information from the Associated Press.

Read more News Alert stories from the Miami Herald

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category