Head of P&O Princess Stepping Down

David Dingle will immediately step in as CEO of Carnival UK, responsible for Carnival Corp.'s British brands--P&O, Ocean Village and Cunard Line--and Alan Buckelew has been promoted to president and CEO of Princess Cruises. Ratcliffe said his goal all along was to retire at the age of 60, and his retirement date marks his 60th birthday. Ratcliffe was appointed head of P&O's cruise division in 2000 and led the de-merger from P&O later that year, which created P&O Princess Cruises. In 2003, it merged with Carnival Corp. Micky Arison, chairman and CEO of Carnival Corp., said that Ratcliffe not only was instrumental in making the merger possible, he also was key to the successful integration of the two companies. Ratcliffe will stay on to assist and advise through the March 2008 transition period.

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