Arnold Donald will step down as Carnival Corp.'s president and CEO on Aug. 1 after nine years in the role and will stay on as vice chair of the company's board.
He will be succeeded by Josh Weinstein, Carnival's current COO.
Donald, who was appointed president and CEO to the world's largest cruise company in 2013, came to Carnival Corp. after a series of events, including the 2012 sinking of the Costa Concordia, had tarnished the company's reputation among investors and consumers. He is widely credited for turning around the company and its culture and leading it to record profits pre-pandemic.
He also guided the company through the unprecedented global shutdown of the industry during the Covid pandemic, as well as its restart in 2021. As chairman of the World Travel & Tourism Council,
he spearheaded an initiative with WTTC during the pandemic to produce two virtual summits on
the science of Covid-19; the first drew 17,000 viewers.
In a statement, Donald called Weinstein "a proven executive who is well respected throughout the company, serving in key leadership roles, driving strong business results during his tenure and playing an integral part in stewarding the company through the global pandemic."
A 20-year veteran of Carnival Corp. Weinstein has been COO for the past two years and has overseen all major operational functions, including global maritime, ports and destinations, sourcing, IT and auditing. Prior to that, he oversaw Carnival UK, the operating company for P&O Cruises (U.K.) and Cunard, which he managed for three years as president.
"Josh's thorough understanding of our industry, operations and business strategy puts him in a tremendous position to lead the next phase of our company's journey," Donald said. "With his vision, intensity and core values truly aligned to those of our company, I cannot think of anyone better suited for this role than Josh."
Weinstein also served as treasurer for Carnival Corp. for 10 years, and from 2002 to 2007 he was an attorney in the corporate legal department.
Donald's move comes shortly after Richard Fain stepped down as Royal Caribbean Group CEO on Jan. 3, after 33 years in that role.
Prior to becoming Carnival's CEO, Donald held senior leadership positions in several industries, including 23 years at agrichemical and biotech company Monsanto; Merisant, parent company of the Equal sweetener brand; the Juvenile Diabetes Research Foundation, and the Executive Leadership Council.
This is a developing story.