Corporate Counsel - March 2010 (Sample Issue)

OUTBOX 03 2010

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INTERVIEW ❘ ARNALDO PEREZ

executive Vice President, General Counsel, and Secretary ❘ Carnival Corporation & plc
CRUISE CONTROL

By Claire Zillman [ ]

AN AD IN THE MIAMI HERALD CHANGED THE COURSE OF ARNALDO PEREZ’S CAREER in 1992. It advertised an in-house assistant counsel position at Carnival Corporation & plc, the world’s largest cruise operator. Perez replied to the ad, interviewed with the company, and got the job. Nearly 18 years later, Perez is still at Carnival Corporation, only now he’s senior vice president, general counsel, and secretary of the Miami-based global cruise company. “Responding to that ad was one of the best decisions I ever made,” says Perez, 49.

After earning a degree in accounting from the University of Miami and a J.D. from Columbia University, the Cuban native, who moved to the United States when he was six months old, started his legal career as a corporate transactions associate at Finley, Kumble, Wagner, Underberg, Manley, Myerson & Casey. In response to what Perez calls the “infamous implosion” of that firm, which went bankrupt and dissolved in Perez says he decided to switch from private practice to the corporate side of law because Carnival was an “attractive corporation that generated sophisticated legal work.” Plus, he adds, “a cruise line is a fairly sexy company to work for.”

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CORPORATE COUNSEL: Why did you decide to go into law?

ARNALDO PEREZ: I majored in accounting as an undergrad, and I knew the degree would be a good foundation for a career as a transactions lawyer. So that’s what I ended up doing.

CC: What types of legal matters do you handle?

AP: One of the most fascinating things about my job is that I have to deal with maritime-related legal issues, which I had no experience with before I came to Carnival. We have to make sure we’re in compliance with the United States Coast Guard, and we have to be certain we abide by all the maritime environmental regulations. I also deal with a whole gamut of other issues like corporate transactions, securities law, and consumer issues.

AP: One of our largest transactions was the 2003 merger of Carnival Corporation and P&O Princess Cruises (now jointly known as Carnival Corporation & plc), which is based in the United Kingdom. This merger was unique in that the companies remain separate legal entities but jointly own all the operating companies and are managed by the same board of directors. Our stock is traded on the New York Stock Exchange and the London Stock Exchange, so that’s resulted in another area of legal work for me. I’ve had to learn United Kingdom law.

AP: We usually get to go on a cruise at least once a year. Carnival has a great product to offer families, and we’re a family of six, so we love it.

CC: Where have your cruises taken you? AP: All over the world, to the Caribbean, to Europe, and to the Mediterranean.

CC: Does your job come with any perks?

CC: Any favorite spots? AP: Alaska. That was one of our more memorable trips. A cruise ship is probably the best way to see the beautiful landscape. Venice was also wonderful. In a cruise ship, you’re elevated, so you get spectacular views from the ship. ■

CC: What’s kept you at Carnival for so long?

AP: I’ve never grown tired of this job. I enjoy the large-scale legal matters that I see on a day-to-day basis, and I also really like working with our management team.