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TheStreet Open House

Royal Caribbean's Largest Shareholder Supports Board Declassification









OSLO, Norway, May 16, 2013 /PRNewswire/ -- AWILHELMSEN AS ("AWIL") Royal Caribbean Cruises Ltd.'s  (NYSE: RCL) largest shareholder announced today that it would vote its shares in favor of a shareholder proposal to eliminate classification of the Royal Caribbean Board of Directors and in accordance with a recommendation of Institutional Shareholder Services ("ISS").  AWIL said it would cast its votes at the May 22, 2013 RCL annual meeting.

AWIL is a founding shareholder of Royal Caribbean and owns approximately 19.1% of the company's shares. The proposal reflects a growing corporate-governance trend away from classification of Boards of Directors. AWIL believes that Royal Caribbean shareholders would be better served by a board whose members are elected annually.

To quote the supporting statement in the Proxy Statement: "Having directors stand for elections annually makes directors more accountable to shareholders, and could thereby contribute to improving performance and increasing firm value."

SOURCE AWILHELMSEN AS ("AWIL")

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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