Jason Liberty made nearly $11m in total compensation in his first year as chief executive of Royal Caribbean Group.
Liberty, who replaced Richard Fain in January 2022 after serving as chief financial officer for nearly nine years, received $10.8m last year, $7m of which was paid in stock awards, with a base salary of $1.2m and $2.35m in incentive pay.
However, he actually made more in his final year as chief financial officer, according to a document to be handed out at the annual meeting on 1 June.
Liberty’s total 2021 compensation as the New York-listed cruise ship operator’s top money man came in at $13m, including $10m in stock awards. He made $5.65m as chief financial officer in 2020.
Michael Bayley, chief executive of company brand Royal Caribbean International, was the group’s second-highest earner last year, taking $7.7m in total compensation.
He was given $5m in stock awards, $1.05m in base salary and $1.59m in incentive pay. He received $17.7m in total compensation in 2021.
The group’s third-highest earner in 2022, Lisa Lutoff-Perlo, received $4.76m in total pay that comprised $2.75m in stock awards, $858,416 in base pay and $1.03m in incentive pay.
She earned $10.4m in total remuneration for 2021.
Harri Kulovaara took in $3.62m in total pay last year that included $1.5m in stock awards, a base salary of nearly $848,000 and $1.15m in incentive pay. His total compensation for 2021 was also $3.62m.
Naftali Holtz, who replaced Liberty as chief financial officer in 2022 after serving as senior vice president of finance, made $2.82m last year: $1.4m in stock awards, $675,000 in base salary and nearly $710,000 in incentive pay.
Former CEO Fain received $300,006 in compensation in 2022 as chairman of the board — a $100,000 base salary and $200,006 in stock awards.
He earned $15.8m in 2021, his last year as chief executive, a position he held for 33 years.
