Royal Caribbean Group Chairman and CEO Richard Fain saw total compensation of just over $12 million for the fiscal year 2020, according to a company SEC filing.

Fain saw his base salary cut by nearly 50 per cent, but made up for it with $11 million in stock awards.

Other company executives also had a good year, with CFO Jason Liberty seeing total compensation of $5.6 million, up from 2019.

Royal Caribbean International President and CEO Michael Bayley earned $7.4 million, also up from 2019.

The SEC filing noted that executives did forgo portions of their base salaries

The company said it wants to establish a mix of compensation components, including fixed and variable pay and short- and long-term incentives, that encourages “focus on both the short- and long-term interests of the company and its shareholders.”

Of note, Carnival Corporation CEO Arnold Donald took home $11 million and Norwegian Cruise Line Holdings CEO Frank Del Rio saw compensation of $36.4 million.

Royal Caribbean Group Compensation Table:

Name and
Principal Position
Fiscal YearSalary ($)Stock Awards ($)One-Time
Stock Awards
Non-Equity
Incentive
Plan
Compensation
Change in
Pension Value
and NQDC
Earnings
All Other
Compensation
Total ($)
Richard D. Fain
Chairman/CEO
2020$645,000$11,171,146 $3,042,000*$154,879$112,478$12,083,503*
2019$1,276,923$8,699,024$4,006,080$189,347$187,545$14,358,919
2018$1,100,000$7,664,567$3,500,000$157,949$12,422,715
2017$1,100,000$7,661,433$4,327,400$99,493$155,087$13,343,413
2016$1,092,308$6,441,770$2,740,222$131,384$10,405,684
2015$1,038,462$5,803,644$2,426,667$119,796$9,388,569
2014$1,000,000$3,673,186$4,923,759$2,246,222$56,611$114,100$12,013,878
2013$1,000,000$3,371,587$2,083,629$250,089$127,858$6,833,163
Jason T. Liberty
CFO
2020$818,798$3,228,563 $1,411,938$89,503$100,429$5,649,231
2019$788,462$2,621,510$1,731,002$91,472$113,674$5,424,004
2018$788,462$2,136,947$1,685,523$140,932$4,751,864
2017$692,308$1,700,547$2,792,203$1,521,533$57,849$125,806$6,890,246
2016$592,308$1,127,080$798,217$21,980$88,478$2,628,062
2015$511,538$765,923$655.175$66,801$1,999,437
2014$444,231$519,248$716.111$508.197$6,393$79,563$2,273,743
2013$380,019$373,728$364.324$25,741$77,676$1,221,488
Michael W. Bayley
President/CEO RCI
2020$866,346$4,943,887 $1,435,000$74,355$116,244$7,435,832
2019$941,923​$4,061,696$1,803,361$110,1190$140,711$7,057,881
2018$870,769$3,086,742$1,577,143$187,432$5,722,086
2017$792,308$2,834,275$2,792,203$1,519,461$121,223$135,123$8,194,593
2016$696,154$1,784,470$938,428$11,630$107,334$3,866,773
2015$675,000$1,436,142$986,229$115,934$3,213,305
2014$598,846$944,096$1,909,604$861,000$15,897$79,207$4,408,650
2013$575,00$770,630$658,891$67,786$101,625$2,173,932
Lisa Lutoff-Perlo
President/CEO
Celebrity
2020$710,558$2,719,084 $1,092,650$130,177$96,854$4,749,323
2019$770,769$2,278,490$1,098,258$140,211$142,114$4,429,842
2018$688,462$1,786,762$1,228,438$136,520$3,840,202
2017$596,154$1,558,865$1,861,505$1,072,083$64,609$123,701$5,276,917
2016$546,154$1,033,167$639,532$92,045$2,310,898
Harri Kulovaara
EVP
Maritime
2020$803,846 $1,483,167 $830,250$81,764$107,746$3,606,773
2019$761,923$1,139,243$870,446$98,382$102,335$3,422,329
2018$692,308$893,480$924,236$764,728$109,262$3,844,014
 

*Declined Non-Equity Incentive Plan Compensation of $3,042,000

Royal Caribbean ‘working with’ agents over building work complaints

Royal Caribbean International admitted it is “working with” agents whose customers had complained about building work on new ship Harmony of the Seas.

But it insisted most of its retail partners had offered “very strong support and positive feedback”.

Negative press last week branded the ship ‘Calamity’ or ‘Disharmony’ of the Seas after guests reported several areas unfinished and claimed some parts were “unsafe”.

Royal declined to reveal how many complaints it had received, but said: “We are working closely with agents whose customers are dissatisfied and are dealing with these on a case-by-case basis to help resolve any queries.”

Agents gave a mixed response  on the Travel Gossip site, with some reporting disappointed customers.

Agent Emily Trumble described her four-night sailing as “awful”.

But agents who attended the previous ‘shakedown’ cruise defended Royal Caribbean.

Claire Brighton, senior commercial manager at Advantage Travel Partnership, said: “I didn’t witness signs of the extremes being reported in the national press. A few areas were not 100% complete but work seemed to be kept to a minimum and did not affect any passengers. The ship was fantastic.”

Si Prentice, group marketing director at The Travel Network Group, said the ship was in “excellent condition” and was disappointed by the negative coverage.

Sharron Gallagher, senior travel consultant at Regent Travel in Stone, Staffordshire, who paid to be on the second cruise on May 26, said: “It may have been hyped up a little. I have no complaints; the majority of things were open for use.”

Phil Nuttall, managing director of The Travel Village Group, said no customers had raised concerns.

A Royal Caribbean spokeswoman said the line had had “some fantastic feedback from a huge number of guests” on pre-inaugural sailings.

Carnival Corp. discloses new CEO’s compensation

Carnival Corp. discloses new CEO’s compensation

By Tom Stieghorst
ArnoldDonaldNew Carnival Corp. president and CEO Arnold Donald will be paid an annual salary of $1 million for the next three years under a new compensation agreement reached this week.

In addition to salary, Donald will get a bonus this year of $1.125 million and $350,000 in relocation and temporary living expenses.

Next year, Donald will be eligible for a bonus with a target amount of $2.65 million and a maximum amount of $5.3 million, according to a filing with the Securities and Exchange Commission. His bonus for the 2015 year is not yet specified.

Donald also will participate in long-term incentive-based compensation plans, including a one-time grant of performance-based restricted stock with a target value of $3 million.

He will get an annual grant of Carnival stock worth $3.5 million a year.

The filing said Donald’s compensation as a director of Carnival Corp. ended on July 3, the day he began his employment with Carnival.