Sponsored By

Norwegian president Stuart will have $650k salaryNorwegian president Stuart will have $650k salary

As president and chief operating officer of Norwegian Cruise Line, Andy Stuart will receive a $650,000 salary, and he'll be eligible for an annual bonus with a target amount equal to 75% of his base salary.

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

March 4, 2015

1 Min Read
Credit: Seatrade Cruise News

Previous president and COO Drew Madsen, 58, who joined the company in October, had a base salary of $750,000.

Stuart, 51, will be eligible to receive options to purchase 100,000 ordinary NCLH shares, according to a filing. The options will have a 10-year term and will vest in four annual installments on each of the first four anniversaries of the grant date.

Starting in 2016, Stuart will be eligible to receive equity awards on a basis consistent with other senior executives.

He'll also be entitled to a $1,500 monthly car allowance and five weeks of vacation per year.

Stuart's initial employment agreement has a one-year term and is automatically renewable for additional one-year terms.

About the Author

Anne Kalosh

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

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

The latest cruise news, analysis and more straight to your inbox
Get the free newsletter read by industry experts

You May Also Like