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