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Investing.com — Carnival Corporation (NYSE:CCL) stock fell 7.5% on Tuesday after the company announced a change of leadership.
Carnival said Josh Weinstein, currently chief operations officer for the company, will assume the role of president and CEO of the company, effective August 1.
The company’s current president and CEO, Arnold Donald, will be appointed Vice-Chair and member of the Board of Directors.
“Josh is 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,” Donald said. “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.”
Following the report, Stifel analyst Steven Wieczynski said in a note, summarized by The Fly that the transition should help bring life into the Carnival story.
The move to appoint a new chief executive comes as the company struggles to navigate away from the pandemic.
Weinstein is a 20-year veteran of Carnival Corp. In his most recent role over the past two years, he oversaw all major operational functions including global maritime, global ports and destinations, global sourcing, global IT, and global auditing.
