Scenario 1: CEO got millions as cruise operator sank Source: CBS News; Published on April 22, 2021 Norwegian Cruise Line, like other cruise operators, was among the companies hit hardest by the pandemic Onboard outbreaks of the virus earlier in the year, followed by a worldwide cruise ban led to a loss of $4 billion in 2020. In mid-2020, Norwegian furloughed hundreds of employees and cut the salaries of its remaining staff by 20%. That pay cut didn't include CEO Frank Del Rio. Norwegian rewarded him with a more than 100% raise last year to $36.4 million. A Norwegian spokesperson told the Wall Street Journal that Del Rio's pay increase was part of a three-year contract extension in addition to special payouts tied to the management team's performance during the pandemic. "Our management team took quick, decisive action to reduce costs, conserve cash (and raise capital," the spokesperson said. In the above given scenario, when workers become aware of the disparity between operational and top-level pay, they may become frustrated, which is more troublesome during the period of financial crunch Keeping in view the importance of compensation equity, discuss it Norwegian Cruise Line's executive compensation package was appropriate? Give reasons. Also, guide what additional information must be communicated to the employees to make them understand the reason behind high compensation package of the executive amid the 20% salary cuts of front-line workers. (Marks 10; CLO 3&5)