Maritza G. Montiel
ROYAL CARIBBEAN CRUISESAbout Maritza G. Montiel
Maritza G. Montiel is an independent director of Royal Caribbean Group (RCL), age 73, serving on the Board since December 2015. She is the former Deputy CEO and Vice Chairman of Deloitte LLP, with extensive leadership across risk oversight and advisory for public registrants, and is recognized by RCL’s Board as an “audit committee financial expert.” She currently serves on McCormick & Company’s board as Audit Committee Chair and previously served on Comcast Corporation’s board from June 2018 to June 2024 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte LLP | Deputy CEO & Vice Chairman | 2011–May 2014 | Oversaw Deloitte’s risk function; advisory partner for many public registrants |
| Deloitte LLP | Managing Partner (Leadership Development & Succession, Deloitte University) | 2009–2011 | Leadership development and succession oversight |
| Deloitte LLP | Regional Managing Partner | 2001–2009 | Regional leadership across a broad cross-section of industries |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| McCormick & Company (NYSE) | Director; Audit Committee Chair | Current | Chairs audit; financial oversight |
| Comcast Corporation (NASDAQ) | Director | Jun 2018–Jun 2024 | Board member; governance oversight |
Board Governance
- Committee assignments: Audit Committee member; Talent & Compensation Committee member .
- Financial expertise: Designated “audit committee financial expert” by the Board .
- Independence: Board determined all directors are independent except the CEO; Montiel is independent .
- Attendance: Board held 5 meetings in 2024; each director attended at least 75% of Board and applicable committee meetings .
- Committee activity: Audit Committee held 7 meetings in 2024; Talent & Compensation Committee held 4 .
- Executive sessions: Independent directors regularly meet in executive session without management; Lead Director presides .
- Director since: December 2015 .
Fixed Compensation
| Component | Policy / Amount | 2024 Montiel Actual | Notes |
|---|---|---|---|
| Annual Board cash retainer | $100,000 | Included | Standard for all directors |
| Committee member retainers | Audit $20,000; Talent & Compensation $12,000 | Included | Based on committee service; no per-meeting fees |
| Chair retainers (if applicable) | Lead Director $75,000; Board Chair $225,000 | Not applicable | Montiel is not Lead Director or Chair |
| Total cash fees (2024) | — | $130,285 | Actual fees earned in 2024 |
| Travel reimbursement | Reimbursed | Policy applies | Directors reimbursed; occasional guest travel reimbursed |
Performance Compensation
| Equity Type | Grant Value | Grant Date | Vesting | Notes |
|---|---|---|---|---|
| Restricted Stock Units (RSUs) | $286,864 | Feb 2024 | Vests in full after the earlier of one year or the next annual meeting | 2024 awards prorated (15 months between grants) |
- Director stock ownership guidelines: Directors must accumulate at least $500,000 of RCL stock (5× annual cash retainer) within 3 years of becoming a director .
- Hedging/pledging: Directors and Section 16 officers are prohibited from hedging and pledging company securities .
Other Directorships & Interlocks
| Company | Relationship to RCL | Notes |
|---|---|---|
| McCormick & Company | No related-party transactions disclosed | Montiel chairs McCormick’s Audit Committee; no RCL related-person transactions in 2024 |
| Comcast Corporation | Former directorship | Served Jun 2018–Jun 2024 |
| Compensation interlocks | None disclosed | No compensation committee interlocks in 2024 |
Expertise & Qualifications
- Financial/accounting leadership and audit expertise from senior roles at Deloitte; deep risk, compliance, and governance experience supporting large organizations .
- Recognized by RCL Board as an “audit committee financial expert,” strengthening financial reporting oversight .
- Experience overseeing corporate governance and risk frameworks applicable to complex global enterprises .
Equity Ownership
| Metric | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 15,964 | As of April 1, 2025; less than 1% of outstanding |
| Unvested RSUs (director grant) | 2,372 | Unvested as of Dec 31, 2024 |
| Pledged shares | None | Company states no pledging by directors/executives |
| Ownership as % of shares outstanding | <1% | RCL had 271,509,334 shares outstanding |
| Stock ownership guideline | $500,000 | Must be met within 3 years of becoming a director |
Governance Assessment
- Strengths:
- Independent director with designated audit committee financial expertise; serves on Audit and Talent & Compensation Committees .
- Robust attendance and active committee engagement; Audit (7 meetings) and TCC (4) in 2024 .
- Strong alignment via annual RSU grants; ownership guidelines ($500,000) and prohibition of hedging/pledging enhance alignment .
- No related-person transactions in 2024; no compensation interlocks disclosed .
- Watch items / potential conflicts:
- Multiple board commitments (McCormick Audit Chair, former Comcast) imply time demands, but no conflicts or related-party transactions disclosed at RCL; auditor is PwC (not Deloitte), reducing any perceived audit conflict risk .
- Signals for investor confidence:
- Financial oversight credentials and committee placements support board effectiveness.
- Transparent director pay: $130,285 cash and $286,864 equity grant in 2024, with standardized vesting and ownership policies .
- Compliance culture: Company reports timely Section 16 filings with isolated late filings for other directors, none noted for Montiel .