RCL outlines compensation for Goldstein in new role

Adam Goldstein becomes vice chairman after four years as president and COO Adam Goldstein becomes vice chairman after four years as president and COO

With Adam Goldstein transitioning from president and COO of Royal Caribbean Cruises Ltd. to vice chairman, effective May 16, the company outlined his new compensation in a filing.

For the balance of 2018, Goldstein's base compensation will be $500,000 per annum, and thereafter will be $250,000 per annum. For 2018, he will receive a bonus prorated for the period he served as president and COO. Thereafter, he will not receive a bonus, according to the new terms.

He'll retain equity and long-term incentive awards held as of May 15.

Should Goldstein's employment be terminated 'without cause' on or before Feb. 28, 2019, he will be entitled to a $4m payment.

2017 compensation $6.7m

During 2017, Goldstein's total compensation was valued at $6.7m, up from $4m in 2016. A good chunk of the increase was nearly $1.9m in one-time stock awards.

Goldstein's 2017 salary was $848,000. On-cycle stock awards were valued at nearly $1.9m and non-equity incentive compensation topped $1.9m.

Goldstein has served as president and COO since 2014. As vice chairman he will continue to spearhead RCL’s global government relations and destination development efforts, and to represent the company in industry associations.

He'll also continue reporting to chairman and CEO Richard Fain.

Posted 11 May 2018

© Copyright 2018 Seatrade UBM (UK) Ltd. Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade UBM (UK) Ltd.

Anne Kalosh

US editor of Seatrade Cruise Review and Seatrade Cruise News

 

Cruise Med logo  

Hidden gems - what does it take to make a destination?

As demand for cruising soars, destination overcrowding has become an issue that the industry needs to overcome to sustain growth.

Join us at Seatrade Cruise Med as our panel of speakers examine what it takes to create a new destination worthy of cruise line calls.

Find out more >

 

 

Cruise Med logo  

Making cruise welcome - what's the key?

As sustainablity and overcrowing issues continue to prove a challenge, making cruise welcome in local communities can be a difficult bridge to cross. And finding the key to change public perception isn't always easy.

Join the discussion at Seatrade Cruise Med as we delve deeper into the importance of balancing economic impact with destination sustainability.

Find out more >