Ludlow will assume all commercial and operational responsibility for P&O Cruises and Cunard globally, with incoming Cunard president Katie McAlister, who joins the line in August, reporting into him.

As part of the leadership change, effective from 1 June, Sture Myrmell will leave Carnival.

Carnival Corporation president, chief executive and chief climate officer, Josh Weinstein called Ludlow “a 21-year veteran of the company, with far-reaching experience across every commercial department and multiple brands in our portfolio”.

“That deep expertise, coupled with Paul’s proven leadership and track record of outstanding results, make him the clear choice to support our entire UK organisation and to drive our return to strong profitability,” added Weinstein, who also thanked Myrmell for his “30 years of dedicated service”.

Ludlow said he believed the future of P&O Cruises “could not be brighter”, adding how the arrival of McAlister this summer “will build on the demand for Cunard voyages in the UK and across the world”.

“There has never been a more auspicious time for our two brands," said Ludlow.