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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: N/A   Bid: N/A  
Book Value: 31.125   Change: +0.749 Variation 
Trade Date: N/A   EPS Estimate Current Year: 3.570  
52-week Low: 42.940   Annualized Gain: N/A  
Market Capitalization: 40.84B   Change From 52-week Low: 13.309  
Percent Change From 52-week High: -2.667%   High Limit: N/A  
Change From 200-day Moving Average: 5.934   Percent Change From 50-day Moving Average: +2.332%  
Open: 56.620   Change in Percent: +1.350% Variation 
Ex-Dividend Date: 2/22/2017   Price/EPS Estimate Next Year: 13.686  
Short Ratio: 6.240   Ticker Trend: N/A  
Holdings Value: N/A   Day`s Value Change: N/A  
Dividend Yield: 2.530   Commission: N/A  
Dividend/Share: 1.400   Earnings/Share: 3.720  
EPS Estimate Next Year: 4.110   Day`s Low: 56.170  
52-week High: 57.790   Holdings Gain: N/A  
Percent Change From 52-week Low: +30.994%   Last Trade (With Time): 1:13pm - 56.249  
Low Limit: N/A   50-day Moving Average: 54.967  
Percent Change From 200-day Moving Average: +11.793%   Previous Close: 55.500  
Price/Sales: 2.459   P/E Ratio: 15.121  
PEG Ratio: 1.140   Last Trade Time: 1:13pm  
1 yr Target Price: 57.780   EPS Estimate Next Quarter: 0.460  
Day`s High: 56.880   Holdings Gain Percent: N/A  
EBITDA: 4.76B   Change From 52-week High: -1.541  
Last Trade (Price Only): 56.249   Day`s Range: 56.170 - 56.880  
200-day Moving Average: 50.315   Change From 50-day Moving Average: 1.282  
Price Paid: N/A   Price/Book: 1.783  
Dividend Pay Date: 3/17/2017   Price/EPS Estimate Current Year: 15.756  
Volume: 2712779   52-week Range: 42.940 - 57.790  
Stock Exchange: NYQ  

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