Carnival CEO steps down after three decades

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Tuesday, June 25, 2013

Reuters: Cruise operator Carnival Corp's CEO of three decades is stepping down in the wake of a series of mishaps including a sinking off Italy last year.

Billionaire Arison, who owns about 30 percent of the company his father Ted co-founded in 1972, will remain chairman.

Carnival's shares had fallen about 15 percent since February when another ship, Carnival Triumph, was left adrift in the Gulf of Mexico for several days following an engine fire.

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