Royal Caribbean stakeholders square up

Guest Contributor

Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly

16
The changes could see Fain's role changed

The second biggest cruise operator in the world, Royal Caribbean, is on the verge of a major corporate shake-up with reports circulating that the company’s key stakeholder is squaring up against chairman and CEO Richard Fain.

According to Bloomberg Business Week the firm’s investors are due to vote today on a non-binding shareholder proposal which would eliminate staggered directors’ terms. The company currently opposes the plan, which is supported by 19% company stakeholder Arne Alexander Wilhelmsen.

If the proposal is passed it could result in a separation of the chairman and CEO roles and a turnover of the board on an annual basis.

Current directors serve three-year terms, a period of time representing a disadvantage to investors.

Bloomberg quoted analyst Joshua Herrity of Telsey Advisory Group as saying that while the board structure isn’t the biggest concern Royal have right now, it represents “part of the move to improve transparency and shareholder returns”.

You might also like
Leave A Reply

Your email address will not be published.

X
GET THE LATEST TRAVEL INDUSTRY NEWS, JOBS AND EVENTS STRAIGHT TO YOUR INBOX!
Join over 95,000+ travel agents, professionals and executives subscribed to our daily newsletter.
You can unsubscribe at any time
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time
Close