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Carnival Chief steps down
Monday, 01 July 2013 15:32
The immobilised 'Carnival Splendor' adrift approximately 150 nautical miles off San Diego following an engine room fire in 2010

Cruise magnate Micky Arison has resigned his role at Carnival Corporation, after more than 30 years at the helm.

Naming board member Arnold Donald his successor from July 3, Arison will remain chairman and the company's largest shareholder.

"I have been discussing this with the board for some time now and feel the timing is right to align our company with corporate governance best practices and turn over the reins after 34 years as chief executive," Arison said in a statement.

Arison leaves the company in a time of significant upheaval. In 2012, the 'Costa Concordia', a cruise ship operated by Carnival subsidiary Costa Cruises, capsized off the Italian coast killing 32.

Several Carnival vessels have also been plagued with problems in more recent times, with the 'Carnival Triumph' immobilised in the Gulf of Mexico following an engine fire, cutting on board electricals and sanitation.

The constant stream of crises has taken its toll on the company's reputation. According to Bloomberg BusinessWeek, the company has "seen its bookings for this year fall behind 2012 levels, even as its cruise fares have moved lower in a bid to win back wary travelers."

Though Carnival’s nine other brands remain unaffected, with Holland America, Princess, and Costa all recording stronger bookings over last year and despite higher prices, the "biggest hitch in this math is that Carnival is the company’s largest US brand, with the most inventory to sell", the news agency concluded.

Source: Bloomberg BusinessWeek

Carnival Corporation Common Sto
Ask: 48.400   Bid: 48.390  
Book Value: 30.592   Change: -0.355 Variation 
Trade Date: N/A   EPS Estimate Current Year: 8.290  
52-week Low: 40.520   Annualized Gain: N/A  
Market Capitalization: 36.08B   Change From 52-week Low: 7.905  
Percent Change From 52-week High: -13.170%   High Limit: N/A  
Change From 200-day Moving Average: 0.626   Percent Change From 50-day Moving Average: +3.974%  
Open: 48.500   Change in Percent: -0.728% Variation 
Ex-Dividend Date: 8/24/2016   Price/EPS Estimate Next Year: 5.387  
Short Ratio: 4.950   Ticker Trend: N/A  
Holdings Value: N/A   Day`s Value Change: N/A  
Dividend Yield: 3.010   Commission: N/A  
Dividend/Share: 1.400   Earnings/Share: 2.902  
EPS Estimate Next Year: 8.990   Day`s Low: 48.100  
52-week High: 55.770   Holdings Gain: N/A  
Percent Change From 52-week Low: +19.509%   Last Trade (With Time): 2:20pm - 48.425  
Low Limit: N/A   50-day Moving Average: 46.574  
Percent Change From 200-day Moving Average: +1.311%   Previous Close: 48.780  
Price/Sales: 2.278   P/E Ratio: 16.687  
PEG Ratio: 0.890   Last Trade Time: 2:20pm  
1 yr Target Price: 213.380   EPS Estimate Next Quarter: 1.960  
Day`s High: 48.750   Holdings Gain Percent: N/A  
EBITDA: 4.15B   Change From 52-week High: -7.345  
Last Trade (Price Only): 48.425   Day`s Range: 48.100 - 48.750  
200-day Moving Average: 47.799   Change From 50-day Moving Average: 1.851  
Price Paid: N/A   Price/Book: 1.595  
Dividend Pay Date: 9/16/2016   Price/EPS Estimate Current Year: 5.841  
Volume: 2737081   52-week Range: 40.520 - 55.770  
Stock Exchange: NYQ