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Name and title: Arnaldo Perez, senior vice president and general counsel Age: 45 Cruise king: Carnival Corp. is the world’s leading cruise ship operator, carrying approximately 6.3 million passengers on 12 cruise lines comprising more than 75 vessels. In addition to its flagship Carnival Cruise Lines, Carnival Corp.’s holdings include the Princess Cruise Line and the Holland America and Seabourn units, as well as the fabled Cunard Lines’ Queen Elizabeth 2 and Queen Mary 2. Its Costa Cruises out of Genoa, Italy, and P&O Cruises provide service to European passengers. The publicly traded Miami firm, whose foundation was laid in 1972, employs 69,500 on land and sea. It reported 2004 revenues in excess of $9.7 billion. Daily duties: Perez supervises all legal affairs of Carnival Corp., apart from personal injury cases involving crew or passengers. A separate department comprising eight attorneys concentrates on such incidents. Carnival’s subsidiaries maintain their own in-house legal groups as well, each with “essentially a dotted line” connection to the general counsel and his office. Immigration and fuel purchasing, unless they spawn legal issues, are handled separately under the auspices of the Department of Homeland Security and fuel-acquisition specialists. Perez, “at this stage, definitely a generalist,” lately has focused his efforts on corporate governance issues related to the Sarbanes-Oxley Act of 2002 and relations with the company’s board of directors. He participates in some transactional and litigation matters. Perez’s legal department is steeped in maritime law. He interacts on a regular basis with officials of the U.S. Coast Guard concerning ships operating out of domestic ports. He works with comparable foreign authorities where appropriate. Port, passenger and ship security issues receive Coast Guard and Department of Homeland Security scrutiny, and Perez engages in discussions with their representatives concerning matters of security. An issue now under review by a special task force is whether cruise companies or the federal government should pay a per-passenger fee to help cover increased port security costs in South Florida. The charging of an extra fee for container boxes is also being worked out by port and shipping officials. Vessel registration is another legal and administrative responsibility. Carnival’s government relations department performs most lobbying activities for the firm, but Perez occasionally journeys to Washington for meetings with federal officials. Recently, he met with Federal Emergency Management Agency (FEMA) staff to discuss a six-month plan to provide shelter for relief workers and displaced Hurricane Katrina victims on three ships chartered from the Carnival fleet. Storm samaritans: Perez “became immersed in the nuances of federal contracting” when the management of Carnival Corp. decided to participate in the Katrina relief effort in New Orleans. There was an initial flurry of legal work due to the cruise line not being a federal contractor, but the transaction “came together in a very short time.” Having the trio of ships taken out of service has had a domino effect on 100,000 passengers, but Carnival has been able to satisfy most, if not all, of its customers with revamped accommodations. Perez stated Carnival’s case to Washington officials, and Carnival also had to respond to questions from a pair of senators concerning the $236 million spent by FEMA on housing evacuees and emergency workers, even though Greece had offered vessels free of charge. Dual-listed firm: A “couple of years ago,” United Kingdom-based P&O Princess Cruise Lines was the focus of a proposed merger agreement with a Carnival competitor, Royal Caribbean Cruise Lines. Perez’s company intervened with its own bid and prevailed, a process in which he was actively involved. A “virtual merger” was effected. The parent company and what is now known as Carnival PLC formed a single commercial enterprise comprising two stand-alone corporations, with each component publicly traded in its respective market. Perez asserted that this arrangement “probably made us a better company,” but also increased the administrative load for the legal department. Because of Carnival’s international dual status, Perez must be “fluent” in the Sarbanes-Oxley Act, adhere to New York Stock Exchange compliance requirements, meet London Stock Exchange standards and have expertise in other U.K. accounting and disclosure rules. Legal team and outside counsel: Perez is the manager of five other attorneys as well as a pair of paralegals. His team relies on the assistance of outside counsel, whom he is responsible for hiring, particularly for major transactions and litigation. Carnival has a “long-time, traditional” relationship with New York’s Paul, Weiss, Rifkind, Wharton & Garrison, and for issues related to the United Kingdom Perez turns to attorneys from Freshfields Bruckhaus Deringer in London. The general counsel reports to Howard S. Frank, Carnival’s vice chairman and chief operating officer. Route to the top: After receiving degrees from the University of Miami (1982) and Columbia Law School (1985), Perez joined a since-dissolved national firm Findley, Kumble, Wagner, Heine, Underberg, Manley, Myerson & Casey, and then, in 1988, signed on with the Miami office of Baker & McKenzie. Two years later, he joined the firm Weil, Lucio, Mandler & Steele, also in Miami. Perez commenced his Carnival career in 1992 as assistant general counsel, and was promoted in 1995. Personal: Perez, a native of Havana, Cuba, and his wife Carmen are the parents of four children: Andrew, 17; Nicole, 14; Anthony, 12; and Melissa, 9. He is an avid baseball fan and fantasy football aficionado. Last book and movie: Faithful: Two Diehard Boston Red Sox Fans Chronicle the Historic 2004 Season, by Stephen King and Stewart O’Nan, and Mr. 3000.

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