Richard Fain has reportedly stepped down as the CEO of Royal Caribbean Group after 33 years in his position.
Market Watch recently reported that Fain is stepping down to continue as the Chair of the Board of Directors. The current Chief Financial Officer, Jason Liberty, will succeed Fain as CEO.
Liberty joined Royal Caribbean Group in 2005 and has served in financial, strategic and operational roles before becoming CFO in 2013. He will be replaced as CFO by Naftali Holtz, the company’s current Senior VP of Finance.
Open Jaw reached out to Vanessa Lee, President of Cruise Strategies for her input on the influence Fain has had on the industry: “I first met Richard in the late 80’s when he joined Royal Caribbean and have admired him and his influence on cruising since that time. Richard not only loves ships, but he understands them too. He was the genius behind Royal’s Oasis-class and has continually sought new ways to innovate ships. He spurred his teams on to new heights and excellence and is a true visionary in the cruise business.”
Fain took the helm of Royal Caribbean Group in 1988, and the company owns and operates Royal Caribbean International, Celebrity Cruises and Silversea Cruises. Under Fain’s leadership, Royal Caribbean Group has grown to 50 ships across six cruise line brands that carry more than 5 million guests annually to 540 destinations.