Royal Caribbean CEO Succession Plan Announced

By Ahmed Jameison • Friday, June 06 15:34 • Permanent Link

Royal Caribbean Group (NYSE: RCL) has announced a significant board leadership transition plan. Richard Fain, the Chair of the Board of Directors since 1988, will be stepping down from his role as Chairman in Q4 2025, but will remain as a Director on the Board. Jason Liberty, who has been serving as the President and CEO since January 3, 2022, was elected by the Board of Directors to succeed Fain as Chairman and CEO and will assume the role in Q4 2025. In addition, John Brock, a member of the Board of Directors since 2014, has assumed the role of Independent Lead Director.

Under Richard Fain’s leadership, Royal Caribbean Group has become the leading vacation company with industry-leading brands, ships, destinations, and people. The company's President and CEO, Jason Liberty, expressed his honor and humility at being elected as Chairman and CEO and stated his commitment to continuing to create and deliver the ultimate vacation experience for guests and delivering elevated long-term value for shareholders. Liberty also emphasized that the company and he will continue to benefit from Richard Fain's experience and mentorship in his continued role as a Director on the Board.

Richard Fain expressed confidence in the next generation of talent at RCG and noted that under Jason's strong leadership, the company will accelerate to even greater heights in the years ahead. Additionally, John Brock's experience from his time as Chairman and CEO of Coca-Cola Enterprises and CEO of InBev, along with his strong integrity, is expected to support the company's ongoing growth and governance.

Royal Caribbean Group, a vacation industry leader, operates a global fleet of 67 ships across its five brands, traveling to all seven continents. The company serves millions of guests each year through its portfolio of best-in-class brands, including Royal Caribbean, Celebrity Cruises, and Silversea, as well as an expanding portfolio of land-based vacation experiences through Perfect Day at CocoCay and the Royal Beach Club collection. The company also owns a 50% joint venture interest in TUI Cruises, which operates partner brands Mein Schiff and Hapag-Lloyd Cruises.

Today the company's shares have moved 1.78% to a price of $276.22. For the full picture, make sure to review ROYAL CARIBBEAN CRUISES's 8-K report.

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