Carnival’s Arison Steps Down as CEO After Cruise Incidents

Carnival Corp., the cruise operator beset by mishaps at sea this year, said Micky Arison will step down as chief executive officer next week after 34 years while remaining chairman. The stock rose the most in almost two years.

Arison, 63, Carnival’s largest shareholder, will hand the job on July 3 to Arnold W. Donald, a director for 12 years, the company said in a statement today. Arison, son of founder Ted Arison, said he suggested splitting the roles to align the world’s largest cruise operator with best practices. The company didn’t conduct an outside search, he said on a conference call.