Donald, 67, began serving on Carnival Corp.'s board in 2001 and Carnival plc's board in 2003, and he became company president and CEO in July 2013.
He took on the vice chair role for a short term as Weinstein transitions into the CEO job. Donald's resignation is effective Nov. 30.
'I am extremely proud of all we have accomplished together these past nine years, including the critical roles played by the board, the senior leadership and every person in this amazing company who worked tirelessly with unmatched commitment, dedication and ingenuity to put our company, following the global pandemic's industry impact, in a position to continue the sustained success we were enjoying,' Donald said.
'It is an honor and a privilege to serve this great company, and after 21 years of serving on the board, I feel the time is right for me to step aside, making room for others to enjoy the experience of contributing their leadership to our company while providing me increased flexibility to contribute outside of Carnival Corporation.'
Micky Arison's praise
Chairman Micky Arison thanked Donald for his leadership and efforts over the years.
'In working closely with Arnold for more than 20 years, I have the utmost respect for him as a person and as a professional,' Arison said. 'He leads by example, listens intently, acts with integrity and puts a strong emphasis on supporting everyone around him. Arnold connects deeply with people and has an extraordinary ability to communicate, which has made him one of the most important and influential voices in our industry.'
Fresh point of view and infectious, positive attitude
Randy Weisenburger, a fellow board member and lead independent director, echoed Arison's appreciation.
'Arnold came in with a fresh point of view and an infectious, positive attitude, and he was able to build on Carnival Corporation's long-term success. We have such great respect for Arnold as a colleague and a proven leader with a strong track record of success — and the company has seen impressive accomplishments during his time, expanding the cruise market and accelerating our growth trajectory as the largest cruise operator in the world,' Weisenburger said.
$1m annual consulting
Donald will continue to provide counsel and advice to the company and its boards through a consulting agreement that starts Dec. 1 and goes through February 2025. He'll be paid $1m per year for that. During the consulting term and for six months after, he is prohibited from providing services to a direct competitor or any other cruise line.