Pier Luigi Foschi has retired from several positions at Carnival Corp., including his seat on the board of directors effective Jan. 6.
His retirement was announced in an SEC filing on Jan. 7. Foschi also is retiring from his positions as chairman of Costa Crociere S.p.A and as chairman and CEO of Carnival Asia, a division of Carnival plc.
"Pier contributed greatly to the success of our company over the years," Carnival Chairman Micky Arison said in the company's internal announcement. "He's a lifetime friend to all of us at Carnival, and his efforts helped transform our company."
Foschi has served as the chairman of Costa Crociere S.p.A since 2000 and as a director of Carnival Corp. & plc since April 2003. He also served as CEO of Costa from 1997 until 2012. He first joined Costa in 1997 following a long at Otis Elevator Company.
The Carnival companies entered into a mutual separation and settlement agreement that includes non-competition, non-solicitation and confidentiality covenants and a €1,000,000 payment "in consideration for his waiver of claims" and €250,000 "for the non-competition and non-solicitations obligations provided for in the settlement agreement," the SEC filing said.
With Foschi's retirement, Paul Chong, vice president of business development, and Bill Harber, vice president of market development, will report directly to Alan Buckelew, who became chief operations officer at Carnival Corp. on Dec. 1.
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