Business

Carnival replaces CEO Arnold Donald with Josh Weinstein

Carnival Corp., the world’s largest cruise line, announced Tuesday that Josh Weinstein, its chief operations officer, will become the next chief executive, taking over from Arnold Donald.

Donald, 67, has been Carnival’s CEO for nine years and had led the company to record profits in 2018 before the COVID-19 pandemic rocked the cruise industry. Effective August 1, he will become vice chairman of the company.

A 20-year Carnival veteran, Weinstein, 48, is taking over at a crucial time for the company as it gradually resumes operations after a long pandemic-related hiatus and navigates new problems, including a rise in fuel prices due to the Russia-Ukraine crisis .

During his tenure as COO, Weinstein oversaw all of Carnival’s key operational functions, including overseeing the company’s maritime operations, ports of call and audit functions.

Carnival cruise ship
Earlier this month, Carnival forecast a loss for the third straight year as it grapples with rising fuel costs.
REUTERS

Earlier this month, Carnival forecast a loss for the third straight year as it grapples with rising fuel costs.

The company expects full fleets from its nine major cruise brands to be back at sea by the end of this year.

US-listed shares of Carnival fell 6.5% in afternoon trade amid broader declines on Wall Street.

https://nypost.com/2022/04/26/carnival-replaces-ceo-arnold-donald-with-josh-weinstein/ Carnival replaces CEO Arnold Donald with Josh Weinstein

DUSTIN JONES

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