Royal Caribbean Group chief executive Richard Fain is to step down from his position in January after more than 33 years.
Chief financial officer Jason Liberty will succeed him in the role and join the board of directors at the cruise giant. Fain will step down on January 3, 2022, but will remain chair of the board of directors.
A statement said that under Fain’s leadership, Royal had “introduced new and distinctive ship categories, with a diverse range of amenities and experiences that transformed the nature of cruising”.
The company highlighted Fain’s involvement with Royal Caribbean International’s Sovereign, Voyager and Oasis class vessels right through to Silversea Cruises’ Project Evolution that will deliver the industry’s first hybrid-powered cruise ship in 2023.
Royal said Fain was “a driving force” behind the creation of the Healthy Sail Panel, a group of health experts who established safety and wellness protocols to restore confidence in cruising safety amid the Covid-19 pandemic.
Fain said: “There are no words to express my admiration and appreciation to the people of the Royal Caribbean Group, who have been the real drivers of our success; and my profound appreciation for the support and guidance of the board of directors during good times and bad throughout this long period of sustained growth.”
He added that the company’s “great depth and breadth” of leaders and the “positive outlook for our business” meant “this is the appropriate time to step aside and have Jason take over”.
On Liberty, he said: “He is a highly versatile and strategic leader, who has been integral to all aspects of the company’s accomplishments and performance.”
After joining Royal Caribbean Group in 2005, Liberty served in financial, strategic and operational roles before becoming chief financial officer in 2013.
The company said that his operational duties had “gone well beyond the responsibilities normally associated with a chief financial officer”.
Liberty is also responsible for Silversea Cruises, the Group’s joint ventures with Tui Cruises and Hapag Lloyd Cruises, as well as the Royal Caribbean Group’s strategy, technology, supply chain, port operations and legal functions.
Liberty said he was honoured and humbled to become chief executive of the Royal Caribbean Group.
“Our incredible people and culture, combined with our leading brands and the most innovative fleet in the world are what make our organisation so successful,” he said. “I’m grateful to both the board for selecting me, and to Richard, for his friendship, mentoring and guidance.
“I look forward to building upon the company’s remarkable record in the years ahead.”