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Michael W. Bayley

President and CEO of Royal Caribbean International at ROYAL CARIBBEAN CRUISES
Since December 2014
Age
66 years
Tenure
Has served at Royal Caribbean for over 40 years, progressing from an Assistant Purser to various leadership roles including Executive Vice President, Senior Vice President, and ultimately President and CEO.

Also at ROYAL CARIBBEAN CRUISES

HUK
Harri U. Kulovaara
Executive Vice President, Maritime
LHB
Laura Hodges Bethge
President of Celebrity Cruises

About

Michael W. Bayley is currently the President and CEO of Royal Caribbean International, serving in that role since December 2014. His personal details include being 66 years old as of February 2025.

Starting his career at Royal Caribbean over 40 years ago as an Assistant Purser aboard one of the company’s ships, his progression has exemplified a deep commitment to the company and the cruise industry.

Throughout his tenure, he held multiple leadership positions including roles as Executive Vice President and Senior Vice President before assuming the top position. He also led Celebrity Cruises as its President and CEO from August 2012 to December 2014.

This extensive background underscores a long-standing career marked by significant contributions to Royal Caribbean International and the broader industry, with his leadership shaping strategic growth and innovation.

Past Roles

OrganizationRoleDate RangeDetails
Celebrity Cruises President and CEO Aug 2012 - Dec 2014 N/A
Royal Caribbean International Executive Vice President, Operations Feb 2012 - Aug 2012 N/A
Royal Caribbean International Executive Vice President, International May 2010 - Feb 2012 N/A
Royal Caribbean International Senior Vice President, International Dec 2007 - May 2010 N/A
Royal Caribbean International Senior Vice President, Hotel Operations N/A N/A
Island Cruises Chairman and Managing Director N/A N/A
Royal Caribbean International Assistant Purser onboard ship Over 40 years ago Began career at RCL

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Salary$1,082,890 AnnualFixed salary for 2023
Time-Based RSUs37,541 shares, $2,799,995 Vests in 3 equal annual installmentsGrant Date: February 9, 2023
Stock Vested74,377 shares, $4,929,625 Upon vestingValue realized on vesting
All Other Compensation$141,325 AnnualOther compensation components
Option ExercisesNone N/ANo shares acquired on exercise

Performance Compensation

Data from  FY 2023

Non-Equity Incentive Plan Compensation

MetricWeightTarget ValueActual ValuePayout/Cap
Company-Wide Performance33.3% N/AN/AN/A
Brand Performance33.4% N/AN/AN/A
Individual Performance33.3% N/AN/AN/A
Adjusted EPS65% $3.30 $6.77 200%
Estimated PayoutN/A$1,573,250 (Target) N/A$3,146,500 (Max)
Bonus Target IncreaseN/AFrom 140% to 145% of base salary N/AN/A

Payouts are typically made in the first quarter following the fiscal year based on annual performance.

Performance-Based Share Awards (PSUs)

DetailValue
Grant DateFebruary 9, 2023
Threshold Shares0
Target Shares56,312
Maximum Shares168,936
Grant Date Fair Value$4,200,031
Performance Period3 years (ending December 31, 2025)
Performance MetricsAdjusted EPS, ROIC, Leverage (Net Debt/Adjusted EBITDA)
Payout Range0% to 300%
Vesting ConditionsBased on achievement of performance metrics