Pier Luigi Foschi, member of the Boards of Directors of Carnival Corporation & plc Chairman of Costa Crociere, S.p.A. and Chairman and Chief Executive Officer of Carnival Asia, a division of Carnival plc, said on January 6, 2014 that he will be retiring from the Boards of Directors effective immediately and from employment with the companies at the end of the financial year, which concluded 30 November 2013, Carnival Corp & plc said in a statement .
The companies concerned have entered into a Mutual Separation and Settlement Agreement with Foschi, which provides for, among other things, non-competition, non-solicitation, and confidentiality covenants as well as a general waiver of claims against Carnival, its affiliates, officers and directors by Foschi. Carnival Corporation will pay Foschi €1,000,000 in consideration for his waiver of claims and €250,000 in consideration for the non-competition and non-solicitations obligations provided for in the Settlement Agreement.
