Value of stock awards, options lifted Del Rio's 2015 compensation to $32m

Frank Del Rio's salary was over $1.8m Frank Del Rio's salary was over $1.8m

Norwegian Cruise Line Holdings chief executive Frank Del Rio received compensation valued at $31.9m in 2015, elevated by nearly $17.8m in stock options and $10.3m in stock awards. His cash income was about $4m including a salary of over $1.8m, and a bonus of $1.9m, according to a proxy.

Other compensation of $140,651 included a cash automobile allowance, tax preparation service and a country club membership, among other items.

NCLH named officers in 2015 also included Kevin Sheehan, who resigned on Jan. 8, the day Del Rio took over the president and ceo roles. Sheehan's total compensation was more than $3.6m, including almost $3.3m in severance.

The next highest compensated executives were Jason Montague, president and chief operating officer, Oceania Cruises and Regent Seven Seas Cruises, at just under $3.4m, and Andy Stuart, president and chief operating officer, Norwegian Cruise Line, at $3.3m.

Montague's salary was $650,00, and he received stock options valued at nearly $2.2m. Stuart's salary was $628,000, and his options were worth $2m.

NCLH evp and cfo Wendy Beck's compensation totaled almost $2.2m. Her salary was $625,000 and options were valued at a little over $1m.

Montague, Stuart and Beck also received cash bonuses of about half a million dollars each.

Compensation for Bob Binder, vice chairman, Oceania Cruises and Regent, totaled almost $1.8m, including a salary of $891,000 and a consulting-related bonus of nearly $758,000.

Posted 07 April 2016

© 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

SCAP Newsletter storybox


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 >



Cruise Med logo  

Be a part of the Mediterranean's most critical conversation

Led by a powerful network of key industry influencers, the State of the Industry session at Seatrade Cruise Med provides a unique opportunity to discuss current trends; explore future challenges and delve deeper into the outlook for the Mediterranean and its adjoining seas.

If you play a part in sustaining cruise tourism in the Mediterranean, then you need to be here – this is the region’s most critical cruise conversation.

Meet the speakers and find out more >