He will assume the role of vice-chair and sit on the cruise giant’s board, with chief operating officer Josh Weinstein taking over as president and chief executive from 1 August.
Donald has run Carnival Corporation, the world’s largest cruise operator, since 2013 and his departure marks a second major cruise sector leadership change this year, with Jason Liberty succeeding Richard Fain as chief executive of Royal Caribbean Group in January.
A 20-year veteran of Carnival Corporation, Weinstein has spent the past two years overseeing all major operational functions including maritime, ports and destinations, sourcing, IT and auditing.
Prior to his most recent remit, he also led Carnival UK for three years as president and before that was treasurer for Carnival Corporation from 2007 to 2017.
"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. 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."
Weinstein said he was “truly humbled” to take over from Donald and “lead such a talented team” of more than 100,000 ship and shoreside team members.
“I have benefited tremendously from Arnold’s guidance and mentoring, and I would like to thank him, Micky Arison our chairman and the entire boards of directors for their support. I look forward to building upon the company’s successes as we move forward,” he said.
In a statement announcing the change in leadership, Carnival Corporation said it expected its nine brands to each return to full fleet operations this year and anticipated monthly adjusted Ebitda to "turn positive" at the beginning of the summer season.
