Longtime CEO of Royal Caribbean, Richard Fain is stepping down. Seatrade-Cruise.com is reporting, “CFO Jason Liberty, 46, will succeed him as CEO and join the board, which Fain will continue to chair.
The third-longest serving CEO among current S&P 500 leaders, Fain’s storied career is defined by the innovations he championed involving every aspect of cruising — from revolutionary ship design to major sustainability efforts to the technologies and ground-breaking features that enriched the on-board experience for millions of passengers.
Under Fain’s leadership, the Royal Caribbean Group introduced new and distinctive ship categories, with a diverse range of amenities and experiences that transformed the nature of cruising. These transformational ships include Royal Caribbean International’s Sovereign, Voyager and Oasis classes; Celebrity Cruises’ Solstice and Edge classes; the upcoming Royal Caribbean International Icon class to be introduced in 2023; and Silversea Cruises’ ‘Project Evolution,’ a hybrid-powered ship.
Fain, working with Liberty, will continue his involvement in the Group’s ship construction program.
Liberty joined the Royal Caribbean Group in 2005 and served in several financial, strategic and operational roles before becoming CFO in 2013. His operational duties have expanded over the years and gone well beyond the responsibilities normally associated with a CFO.
He is also responsible for Silversea, the Group’s joint ventures with TUI Cruises and Hapag-Lloyd Cruises, and the Group’s strategy, technology, supply chain, port operations and legal functions.”
Speaking as a travel advisor, I can say that Richard’s video messages to the travel industry were words of encouragement at a time when uncertainty ran high. It’s reassuring that Richard Fain will remain involved in the cruise industry.
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