Carnival's ( CCL) chairman and CEO Micky Arison was awarded compensation worth about $7 million in fiscal 2010, 3% lower from the year before, the Associated Press said on Feb. 2.
Also, the leading cruise operator left Arison's base salary at $880,000, AP reported. His performance-based cash bonus rose to about $2.5 million, an improvement from $2.2 million a year ago, the report said. In addition, the CEO was given restricted stock awards worth $3.5 million the day they were granted. During the same time last year, he received $3.6 million of such awards. The report said the Arison was given $127,137 in all other compensations, consisting of $76,503 for the personal use of company aircraft, $22,581 in health insurance costs and premiums, $11,861 for an automobile lease or allowance, $6,286 for a chauffeur and security and $9,906 for other uses. The sum was actually much less than the $496,513 he was given a year ago for all other services, according to AP. The Associated Press noted that cruise operators like Carnival are beginning to see increased business momentum as vacationers become more confident about spending their money on such luxuries.