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Old September 30th, 2013, 11:20 AM
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Default Top Executives Leaving Cruise Biz

Top Executives Leaving Cruise Biz

Some of the leading people in top positions are exiting the business suddenly

Has cruising lost its cachet as a business? If the very sudden departures of several key industry players in any indication, it is possible.

In the last month some very important people have left their jobs at various cruise lines; Carnival Corp (owner of Princess, P&O, Cunard, Holland America, Seabourn and Carnival Cruise Line) and also Royal Caribbean International (owner of Celebrity, Azamara and Royal Caribbean, among other brands).

It seemed to start with Micky Arison leaving the position of CEO for Carnival Cruise Line, but make no mistake, Micky has not given up any power, he merely changed his visibility so he can no longer be criticized for his obsession with his basketball team (he owns the NBA championship team Miami Heat) rather his cruise ships.

But since Micky left this is who we have seen leaving the cruise industry:

Lisa Bauer of Royal Caribbean, Carol Marlowe and Peter Shanks (two former presidents of Cunard Line, most recently with P&O Cruises in the U.K.), Edie Bornstein of Azamara (the upscale cruise line in the Celebrity family). Make no mistake, all of these people were key figures in the topmost levels of the cruise business, and all have departed in the last 30 days. What is going on here?

Is it that cruising has become something of a "less desirable" business recently because of the bad news, etc. Are they bored with it, is it a good time cash out because lower stock prices are coming, has pay compensation gone downhill. are the CEO and Board of Directors too grouchy and critical?

What do you think?
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