After close to four decades in the role, Richard Fain will step down as Chair of Royal Caribbean Group in Q4 2025, with President and CEO Jason Liberty elected to take it on in his stead.
Fain, who has held the position since 1988, will remain as Director of the Board when Liberty becomes Chairman and CEO.
“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.
“I am honoured 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.”
Meanwhile, Fain said it was time to “hand the wheel to the next generation”. “I am very confident that under Jason’s strong leadership, the Royal Caribbean Group will accelerate to even greater heights in the years ahead,” he added.
Additionally, John Brock, a member of the Board of Directors since 2014 and current Chair of the Nominating and Corporate Governance Committee, 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,” Liberty said.
“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.”
