Costa Crociere has confirmed Pier Luigi Foschi will step down from his role as chief executive on July 1st.

The move follows the sinking of the Costa Concordia in January this year, with the loss of 32 lives.

Foschi, 65, will remain as chairman and a managing director of the Costa group and remain on the board of directors of parent Carnival Corporation. 

Michael Thamm, currently serving as president of Germany-based AIDA Cruises, has been appointed chief executive of the Costa group, which includes Costa Cruises and AIDA Cruises, as well as Spanish cruise operator Ibero Cruises. 

Thamm will also serve on Costa’s board of directors.

Thamm will relocate to Genoa, Italy, and in his new role will report to Costa’s board of directors, which includes Micky Arison and Howard Frank, Carnival Corporation chairman and chief executive, and vice chairman and chief operating officer, respectively.

Long-time AIDA senior executive Michael Ungerer has been named AIDA Cruises’ president and Gianni Onorato will continue in his role as president of the Costa Cruises brand.

Foschi joined Costa Crociere in 1997 and was elected chairman of the board in 2000.