Del Rio compensation doubled to $22m in 2018

Frank Del Rio's 2018 compensation would have totaled $14.9m if not for an accounting principle that put long-term awards from 2017 into his 2018 package Frank Del Rio's 2018 compensation would have totaled $14.9m if not for an accounting principle that put long-term awards from 2017 into his 2018 package

Frank Del Rio, president and CEO, Norwegian Cruise Line Holdings, received 2018 compensation valued at $22.6m, up from $10.5m the year before.

His compensation would have totaled $14.9m but for the accounting of the company's long-term incentive plan, which put Del Rio's 2017 performance share units into his 2018 compensation.

Del Rio's base salary rose to $1.75m from $1.5m, while stock awards soared to $15.2m from $3.7m the year before. He also received a cash incentive of $5.4m, up from $4.5m, and other compensation of $206,000, including a car allowance, medical plan premium, travel expense allowance and country club membership.

The second highest earning of NCLH's named executives was Wendy Beck, former EVP and CFO, with total compensation valued at $6.6m, up from $3.2 m in 2017.

$5.3m each for Montague, Stuart and Lindsay

Three executives each received total compensation of $5.3m. They are Robin Lindsay, EVP vessel operations for NCLH; Andy Stuart, president and CEO, Norwegian Cruise Line; and Jason Montague, president and CEO, Regent Seven Seas Cruises.

That was up from the $3.2m each of the three were entitled to in 2017.

In 2018, Lindsay, Stuart and Montague received salaries of $700,000, up from $650,000 the prior year. Each got a $1.75m cash bonus, up from $975,000 in 2017, and stock awards of greater value.

The total compensation for Beck's successor, EVP and CFO Mark Kempa, was $3m. His salary was $856,000, and his cash bonus was $1.57m.

Posted 12 April 2019

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Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor Seatrade Cruise Review