Carnival Corp. and subsidiary Costa Crociere said that Pier Luigi Foschi will retire as Costa Crociere's CEO, effective July 1.
Foschi, 65, will remain as chairman and a managing director of the Costa group and remain on Carnival Corp.'s board of directors.
Michael Thamm, currently serving as president of Germany-based Aida Cruises, has been appointed CEO of Costa Crociere, which includes Costa Cruises, Aida Cruises and Ibero Cruises.
Thamm will also serve on Costa's board of directors. He will relocate to Genoa, and in his new role will report to Costa’s board of directors, which includes Micky Arison and Howard Frank (Carnival Corp.'s CEO and chief operating officer, respectively).
The moves are part of a long-term succession plan, which included the scheduled retirement of Foschi once he reached the age of 65.
Longtime Aida senior executive Michael Ungerer has been named Aida's president. Gianni Onorato will continue in his role as president of the Costa Cruises brand.
Foschi joined Costa Crociere in 1997 and was elected chairman of the board in 2000.
In his role as Costa’s chairman, Foschi will continue to oversee the company’s government relations, oversee matters related to the Costa Concordia accident and spearhead strategic projects.
“Pier has made it known for some time that he intended to retire once he turned 65, and today’s announcement is part of our longtime succession plan that allows us to tap into our talented management team to find qualified individuals to oversee our brands,” Arison said.
“Pier has developed Costa into a very successful and profitable organization, and we wish to thank him for his many years of dedicated service. At the same time, Michael has done a superb job managing Aida Cruises, and we have every confidence that Michael will continue these efforts at the helm of Costa,” Arison added.
All of the various appointments are subject to approval by Costa’s board.
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