Arnold will be back

PRESIDENT and ceo of Carnival Corporation, Arnold Donald has had his contract extended by one year, until Oct 2017.

The executive’s long-term incentives have been modified, replacing “certain detailed compensatory provisions” with long-term incentive awards which “shall be determined by the boards of directors in their discretion”.

According to a SEC filing, the contract is now “subject to automatic annual renewals”, unless either party provides at least 90 days of written notice.