Royal Caribbean Group has announced significant changes to its board leadership that will take effect later this year.
Richard Fain, Chair of the Board of Directors since 1988, will step down from his role as Chairman of the cruise giantwhich includes Royal Caribbean International, Celebrity Cruises and Silverseain the fourth quarter of 2025.
Royal Caribbean Group President and CEO Jason Liberty will succeed Fain as Chairman and CEO, assuming the role in Q4 2025. Fain will remain in his role as a Director on the Board.
"Richard's leadership has been nothing short of transformative. Under his leadership, the Royal Caribbean Group has become the leading vacation company, with industry-leading brands, ships, destinations and people," Liberty said in a statement. "I am honored and humbled to have been elected as Chairman and CEO and I look forward to continuing to create and deliver the ultimate vacation experience for our guests and delivering elevated long-term value for our shareholders."
"Fortunately, the company and I will continue to benefit from Richard's experience and mentorship in his continued role as a Director on our Board."
"It is time to hand the wheel to the next generation of exceptional talent at RCG, and I am very confident that under Jason's strong leadership, the Royal Caribbean Group will accelerate to even greater heights in the years ahead," added Fain.
Meanwhile, Board of Directors member and current Chair of the Nominating and Corporate Governance Committee John Brock has assumed the role of Independent Lead Director.
"Looking ahead, John Brock brings invaluable experience from his time as Chairman and CEO of Coca-Cola Enterprises and CEO of InBev, and strong integrity that will support the company's ongoing growth and governance. I look forward to working with him in his new role, along with the rest of the Board, as we execute on our bold ambitions," Liberty added.
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