- Push-out Score determined
- After nine years in the position
- Praise and thanks for Donald
- Josh Weinstein taking over
- Donald will remain as Vice Chair at Carnival
- Donald said 87 words
(exechange) — Miami, Florida, April 26, 2022 — Arnold Donald, chief executive of Carnival, leaves his position. As announced by Carnival Corp. in a news release on Tuesday, April 26, 2022, Arnold W. Donald leaves his post as chief executive officer at the cruise company, after nine years in the role, effective August 1, 2022.
Arnold Donald’s duties as CEO will be taken over by Josh Weinstein, currently Chief Operations Officer at Carnival Corp.
“I cannot think of anyone better suited for this role than Josh”
Carnival did not give an explicit reason for Arnold Donald’s departure from the CEO post. 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.”
Donald will remain as Vice Chair at Carnival
“[E]ffective August 1st, Arnold Donald, currently President and Chief Executive Officer, is being appointed Vice Chair and member of the Boards of Directors,” Carnival said.
Share price decline since April 2017
The announcement follows a decline in Carnival Corp.’s share price of 68% since April 2017.
In the position of CEO since 2013
Arnold Donald became CEO of the Company in 2013.
His bio reads as follows:
CAREER HIGHLIGHTS
- Carnival Corporation & plc
President and Chief Executive Officer (2013 to present)
Chief Climate Officer (January 2022 — present)
- The Executive Leadership Council, a professional network of African-American executives of major U.S. companies
President and Chief Executive Officer (2010 to 2012)
- The Juvenile Diabetes Research Foundation International
President and Chief Executive Officer (2006 to 2008)
- Merisant Company, a manufacturer and marketer of tabletop sweetener products, including the Equal® and Canderel® brands
Chair of the Board and Chief Executive Officer (2000 to 2003)
- Monsanto Company, a company that develops agricultural products and consumer goods
Senior Vice-President and President of its Nutrition and Consumer sector (1998 to 2000)
OTHER PUBLIC COMPANY BOARDS
- Bank of America Corporation (2013 to present)
PRIOR PUBLIC COMPANY BOARDS
- Crown Holdings, Inc. (1999 to 2019)
- Oil-Dri Corporation of America (1997 to 2013)
- Laclede Group (2003 to 2014).
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Arnold Donald’s move on a scale of 0 to 10.
exechange reached out to Carnival and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 18.2022 ($).