Norwegian Cruise Line Holdings, parent company of NCL, Oceania Cruises and Regent Seven Seas Cruises, terminated nine percent of its shoreside workforce earlier this week, according to the Miami Herald. NCL did not explain why it was necessary to terminate nearly a tenth of its employees, particularly during the holiday season. Meanwhile, NCLH promoted
Norwegian Cruise Line Increases Service Fees Again – But Will NCL’s Crew Remain Underpaid While CEO Del Rio Continues to be Paid an Average of $25,000,000 a Year?
A number of travel publications are reporting that Norwegian Cruise Line (NCL) is drastically increasing its service charges by an unprecedented 25% for most cabins, effective January 1, 2023. NCL’s new rate for most passenger cabins will increase $4 from the current $16 a cabin to $20 cabin per person per day. NCL’s guests staying…
Carnival Corporation CEO Arnold Donald’s Compensation Increased Over 35% in the Past Two Years of the Pandemic to Over $15,000,000 While CCL Stock Declined Over 60%
Carnival Corporation CEO Arnold Donald received over $15,000,000 in compensation in 2021, according to MarketWatch. Carnival stock (CCL) had a “two-year decline of 60.4%” while Mr. Donald’s “total compensation increased 35.1% over the past two years” to $15,060,000.
Income for Carnival Corporation #cruise / @CarnivalPLC Chief Executive Officer / CEO Arnold Donald Increased 35% in past two years to over $15,000,000 while CCL stock declined over 60% https://t.co/9DCKw87kOY. Photo via Cruise Industry News pic.twitter.com/w57TOdiUUc
— James (Jim) Walker (@CruiseLaw) February 16, 2022
The Carnival CEO’s income increased from $13,306,097 in 2020 and $11,149,514 million in 2019, according…
Stock Awards During a Deadly Pandemic? Carnival Executives Prosper While Crew Members Struggle
Carnival Corporation CEO Arnold Donald and other top Carnival cruise executives collected millions of dollars more in compensation in 2020 than in 2019 via stock awards, according to a filing with the Securities and Exchange Commission (SEC) last week. Cruise Industry News summarized the compensation in an article titled Carnival Corporation Executives Made More Money…
NCL’s CEO Frank Del Rio Collected Over $17,800,000 in 2019 – 1,052 Times More Than Wages of Median NCL Crew Member
Norwegian Cruise Line Holding’s CEO Frank Del Rio (photo above, via CNBC, in happier times in 2019) collected $17,808,364 in compensation last year, including $12,201,324 in stock awards and $3,600,000 in incentive plan compensation according to SEC filings. His compensation was down from 2018 when he collected nearly $22,600,000. Del Rio has collected over $85,000,000…
Two Days After SEC Filings Reveal Royal Caribbean CEO Richard Fain Collected Over $14,000,000 in Compensation in 2019, Royal Caribbean Lays Off 1,500 Shoreside Employees
Royal Caribbean Cruises’ CEO Richard Fain (photo top in happier days) collected $14,358,919 in compensation in 2019, the cruise line announced two weeks ago in a SEC filing.
Two days earlier, Royal Caribbean announced that it was laying off 25% of its workforce in the United States, due to the COVID-19 pandemic. In addition, Royal…
Carnival CEO Arnold Donald Extends Contract, Sells Over $4,000,000 of CCL Stock
Cruise Industry News reports that Carnival Corporation recently confirmed in a SEC filing that it had extended CEO Arnold Donald’s employment agreement for an additional year.
You can see the original terms of his three year employment plan filed with the SEC in 2013 here.
Mr. Donald collected $9,373,908 in 2015.
Cruise Executive Richard Fain Hits the Jackpot Again
According to the SEC, Royal Caribbean CEO Richard Fain (below right) sold 87,488 shares of his RCL stock at an average price of $76.41, for a total value of $6,684,958.08.
After the transaction, cruise executive Fain still owns 1,139,613 shares of his cruise line stock valued at approximately $87,077,829.33.
I wrote a similar article…
Carnival Cruise Compensation: The Rich Get Richer
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…
Carnival Cruise CEO Arison Pockets $90,000,000
Miami’s Daily Business Review reports today that Micky Arison paid himself a "special year-end dividend" of $90,000,000. Yes, that’s 90 million dollars.
Cruise CEO Arison is not the only executive in Florida lining his pockets, as the Review states that other executives in Florida are paying themselves dividends in the range of $250,000 to…