Frank del Rio, president and CEO of Norwegian Cruise Line Holdings, took home $10.5 million in pay in 2017, up from $2.9 million last year, but down from $31.9 million in 2015.
The numbers were reported in a Friday afternoon SEC filing from Norwegian Cruise Line Holdings.
Total revenue for the year rose from $4.9 billion in 2016 to $5.4 billion in 2017.
Norwegian Cruise Line boss Andy Stuart took home $3.2 million, up from $2.8 million in 2016.
Jason Montague, president and CEO of Regent, also took home $3.2 million, well up from $2.3 million the year prior.
Norwegian said its executive compensation program was driven by key business objectives and described it as performance based, helping create long-term shareholder value
“We believe that a capable, experienced and highly motivated executive management team is critical to our success and to the creation of long-term shareholder value,” the company said. “We believe that the most effective executive compensation program is one that is designed to reward the achievement of annual, long-term and strategic goals and aligns the interests of our executive officers with those of our shareholders, with the ultimate objective of improving long-term shareholder value.”
The company said the program should “effectively attract and retain executive officers with the requisite skills and experience to help us achieve our business objectives; and motivate our executive officers to achieve our short-term and long-term business objectives.”
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