In a statement the Miami-based cruiseship operator said Gerry Cahill is retiring but will continue to serve as an advisor while it searches for a replacement.

The company pointed out that the 63-year-old joined the organisation in 1994 as a vice president of finance following a six year stint with Safecard Services.

In 1998 Cahill was promoted to chief financial officer of Carnival Corp, a role the industry veteran held for nearly a decade before he was appointed as chief executive of what is now the group’s largest brand.

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