Carnival Cruise Line’s chief executive, Gerry Cahill, is retiring after 20 years of service.

The 63-year-old will retire on November 30 having been chief executive of the brand since 2007.

Arnold Donald, president and chief executive of Carnival Corporation, said: “Gerry has been instrumental in taking Carnival Cruise Lines to new heights as one of the pre-eminent brands in the cruise industry

“He and his team have delivered new innovations to cruising while growing the business year after year.”

During his time as chief executive, Cahill has launched four new ships and introduced a new class of ship, the Dream class, which includes Carnival Dream, Carnival Magic and Carnival Breeze.

Micky Arison, chairman of Carnival Corporation, said: “I can’t thank Gerry enough for his tireless efforts both as chief financial officer of Carnival Corporation and chief executive of Carnival Cruise Lines.

“While we would always feel his retiring is premature, we understand and support his decision. His leadership and passion, along with his honest and frank views will be missed, and we will always have a deep appreciation for Gerry’s tremendous contributions to Carnival Corporation.”

The line said no replacement for Cahill has been named; however, he will stay on in an advisory capacity to provide advice to the leadership team through the transition period.

Cahill, who joined Carnival Corporation in 1994 as vice president of finance, said: “It has been an honour and a privilege to lead Carnival Cruise Lines for the past seven years and to work for this great company for 20 years

“Deciding when to retire is not easy, especially when you love what you do. I feel the time is good for me personally and the company and brand are in a good place.

“Our employees are the finest, most dedicated people I know, and the thing I will miss most in my retirement is the opportunity to come to the office each day and work with such talented individuals.”