A gold star for Carnival’s CEO…

March 5, 2010

We’ve certainly picked on cruise line Carnival Corp. (CCL) and its Chairman and CEO, Micky Arison over the years for some unusual perks like Miami Heat tickets and corporate jet usage (see here and here among others). But as we were reading the company’s recent proxy, we actually came across a footnote that seemed worth spotlighting as a gold star:

Pursuant to Mr. Arison’s request Carnival Corporation donated the entire amount of Mr. Arison’s Non-Equity Incentive Plan Compensation to the following relief organizations: UNICEF, the University of Miami’s Project Medishare, American Red Cross, and Save the Children to aid in the relief efforts in Haiti following the devastating earthquake in January 2010.

What’s surprising here is that this is the type of thing a company — particularly one as media savvy as Carnival, which counts over 13,000 followers on Twitter — would tout in a press release as opposed to burying in a footnote to a proxy statement. While Carnival did put out a press release announcing a $5 million corporate donation to Haiti relief efforts back on Jan. 18 and even quoted Arison in the release, the only disclosure about Arison’s personal donation was that footnote in the proxy statement. A Carnival spokeswoman confirmed this morning that Arison’s $2.2 million donation was part of the $5 million announced in January.

If companies start burying good things in the footnotes in their routine filings, what’s next? World peace?

Image source: Carnival Cruise Lines

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