Travel Weekly and Skift recently reported that the new CEO of Carnival Corporation, Arnold Donald, will receive the following in compensation:

Arnold Donald - Carnival Cruise Lines Compensation$1 million base salary to start, with reviews by the board of directors to increase or decrease his salary;

A fixed bonus of $1.125 million for 2013;

A one-time award of performance-based restricted stock with a target value of $3 million, although it could be 5 times that depending on company’s performance;

An annual stock award with a fair market value of $3.5 million in long term incentives;

$350,000 to cover relocation and temporary living expenses; and

A bonus for 2014 up to $2.65 million which could go up to $5.3 million in 2015.

You can read the official SEC filing here.

Mr. Donald must be so happy that he feels like dancing. 

The only things missing are a half dozen front row seats to the Miami Heat games.

This news must feel like salt into the wounds of the long term Carnival Cruise Lines crew members who lost their retirement benefits earlier this week. 

 

Photo Image: St. Louis Post Dispatch

  • Slippers McEwan

    A company that will not recieve a penny from me in any cruise revenue and since I worked in the industry and for 2 Carnival properties will also be making sure that friends and family consider other options. Mind you this is small drop in the proverbial bucket but its the principal of the matter. Royal Caribbean or NCL do this or have done so then the same applies. Cruise lines are becoming scummier and sleazier by the minute. run by scun for scum

  • Norman Echelberry

    Greetings, As a ex Cruise Ship employee, I am disgusted to hear how ALL crew members around the world are getting treated! Its time to stand up and MAKE SOME NOISE!

  • John Goldsmith

    Well, it seems that the new CEO has one heck of a contract lawyer.We all know that top executives of corporations, including law firms, make very high salaries, with many perks and bonuses as part of the negotiated package.If those who object to the packages for the corporations that pay these salaries, then please vote with your wallet. Don’t cruise, don’t fly, don’t buy American cars,don’t shop at the stores, don’t buy designer jeans. Get the point? If you really hate it, buy small shares every year, then go to the meetings.Just saying……