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CEO Pandemic Pay: ‘Heads I Win, Tails I Win Almost as Much’

  • Boards give out bonuses even when executives miss goals
  • Companies cut leaders slack for lousy results in pandemic
Passengers Board Ships At Miami Port As Cruise Fans Ignore U.S. Alert
Photographer: Jayme Gershen/Bloomberg
Updated on

Norwegian Cruise Line called 2020 its “most challenging year.” The company lost $4 billion, a half decade’s worth of profit. Shares dropped 56%. Thousands of crew members lost their livelihoods.

But Frank Del Rio, its chief executive officer, did just great. He collected his biggest-ever pay package: $36.4 million.