Foschi to Retire as Costa CEO, Thamm To Lead Costa Group

Pier Luigi Foschi will retire as Costa Cruises' ( CEO effective July 1, Carnival Corporation and its subsidiary Costa Crociere announced today. Foschi, 65, will remain as chairman and a managing director of the Costa group and remain on the board of directors of Carnival Corporation.

Foschi joined Costa Crociere in 1997 and was elected chairman of the board in 2000. Carnival's statement said "the moves are part of a long-term succession plan which included the scheduled retirement of Foschi once he reached the age of 65."

In his role as Costa’s chairman, Foschi will continue to oversee the company’s government relations, matters related to the Costa Concordia accident and strategic projects

Michael Thamm, president of Germany-based AIDA Cruises, has been appointed CEO of the Costa group, which includes Costa Cruises and AIDA Cruises, as well as Spanish cruise operator Ibero Cruises.

Thamm, who will relocate to Genoa, Italy, will also serve on Costa's board of directors. He'll report to that board, which includes Micky Arison and Howard Frank, Carnival Corporation chairman and CEO, and vice chairman and chief operating officer, respectively.

Veteran AIDA senior executive Michael Ungerer has been named AIDA Cruises’ president. Gianni Onorato will continue in his role as president of the Costa Cruises brand.

Arison said: "Pier has made it known for some time that he intended to retire once he turned 65 and today’s announcement is part of our longtime succession plan that allows us to tap into our talented management team to find qualified individuals to oversee our brands. Pier has developed Costa into a very successful and profitable organization and we wish to thank him for his many years of dedicated service."

All appointments are subject to approval by Costa’s board.

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