Richard Fain, Chief Executive Officer of the Royal Caribbean Group for the past 33 years, has decided to step down as CEO on January 3, 2022, the company said in a statement.
“Chief Financial Officer Jason Liberty will succeed him as CEO and join the Board of Directors. Fain will remain as Chair of the Board of Directors,” Royal Caribbean Group said.
“The third-longest serving CEO among current S&P 500 leaders, Fain's storied career is defined by the innovations he championed involving every aspect of cruising – from revolutionary ship design to major sustainability efforts to the technologies and ground-breaking features that enriched the onboard experience for millions of guests,” the company said.
Liberty joined the Royal Caribbean Group in 2005 and served in several financial, strategic and operational roles before becoming CFO in 2013. His operational duties have expanded over the years and gone well beyond the responsibilities normally associated with a CFO. 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.
The company also announced that Naftali Holtz will become CFO when Liberty assumes the CEO role. Holtz is currently senior vice president of finance for the Royal Caribbean Group, responsible for corporate, capital and revenue planning and analysis, deployment planning, risk management and treasury.