Carnival (CCL) executive compensation, 2026 proxy

Josh Weinstein, CEO, was paid $18.9M in 2025, down 20% from $23.6M the year before. The CEO-to-median-employee pay ratio was 1,063:1, on median employee pay of $17,773.

Filed
February 27, 2026
Pay year
2025
Named executives
5
CEO total pay
$18.9M-20% vs prior year
CEO to median employee
1,063:1median $17,773
CEO pay in equity
63%$12M in awards
Record revenues
$26.6BAll-time high full-year revenues
Operating income
$4.5BUp 25 percent
Annual bonus payout
186.9%Payout percentage of target
Greenhouse gas reduction
20%Cut relative to 2019 baseline
Refinancing plan
$19BCompleted in less than a year

How Weinstein was paid

$18.9M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary8%Stock awards63%Non-equity incentive29%All other compensation0%

Named executive officers

ExecutiveTotal
Josh WeinsteinCEO$18,887,776
David BernsteinChief Financial Officer and Chief Accounting Officer$6,939,218
Bettina DeynesChief Human Resources Officer$2,886,837
Lars LjoenChief Maritime Officer$2,826,115
Enrique MiguezGeneral Counsel$3,462,819

What changed and why

  • $18.9MChief executive officer total compensation decreased to $18,887,776 in 2025 compared to $23,566,603 in 2024.
  • $26.6BRevenues reached a record $26.6 billion for fiscal 2025 alongside an operating income of $4.5 billion.
  • 186.9%Annual bonuses for named executive officers paid out at 186.9 percent of target based on strong results.
  • Performance metrics for 2025 performance-based stock units incorporated a relative total shareholder return metric.
  • Target compensation increases were approved for named executive officers to align closer with market median levels.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.