Carnival Corporation & plc today announced that effective December 1, 2013, Howard Frank will be stepping down from his current roles as vice chairman and chief operating officer to take on the role of special advisor to the CEO and to the chairman, while continuing to represent the industry in his leadership role as chairman of CLIA.

"We are greatly appreciative of Howard’s commitment to provide ongoing counsel, advice and industry leadership, as he enters this next stage," said Arnold Donald, CEO of Carnival Corporation & plc.

Frank teamed with Chairman Micky Arison to grow Carnival into the largest leisure travel company in the world. When Frank joined Carnival, the company had 785,000 guests sailing on 14 ships, supported by fewer than 7,000 employees generating $1.1 billion in revenue and a market capitalization of $2.7 billion.

Today, Carnival's 10 brands annually welcome over 10 million guests on more than 100 ships supported by over 90,000 employees generating more than $15 billion in revenue with a market capitalization of $27 billion.

"Howard truly is a pioneer in our industry and he leaves an unequaled legacy at Carnival Corporation & plc," Donald said.

Micky Arison, chairman of Carnival Corporation & plc, added, “For the last 25 years, Howard and I have worked side by side and I could not have asked for a better business partner. I am looking forward to his continued contributions in his new role.”