New Leadership Takes Over at Royal Caribbean: A New Era Begins

A major change is happening at the top of Royal Caribbean Group, and it’s come as a surprise to some. After leading the company since 1988, Richard Fain, the long-time Chairman of the Board of Directors, will step down from his role in the fall of 2025.

But he’s not leaving entirely.  Fain will stay on as a director on the board, still sharing his smarts and helping guide the company.

Taking his place as both Chairman and CEO will be Jason Liberty, who has been Royal Caribbean Group’s President and CEO since early 2022. The board picked Liberty to take over Fain’s spot, which should be a seamless transition.

Richard Fain’s Journey

Richard Fain’s time at Royal Caribbean Group, and really, in the whole cruise world, has been pretty remarkable.   Just look at how different the cruise company looks compared to even 20 years ago.

Under Fain, Royal Caribbean Group grew into a huge vacation company, with top cruise lines like Royal Caribbean International, Celebrity Cruises, and Silversea. They also added game-changing Oasis and Icon-class ships, in addition to Perfect Day at CocoCay.

Jason Liberty himself praised Fain’s big impact, saying, “Fain’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.”

Fain clearly feels good about handing things over. He shared his trust in Liberty’s leadership, saying, “It is time to hand the wheel to the next generation of exceptional talent at RCG, and I am very confident that under Liberty’s strong leadership, the Royal Caribbean Group will accelerate to even greater heights in the years ahead.”

Since he’ll still be on the board, Fain’s wisdom and experience will keep helping the company move forward.

Jason Liberty: Steering the Ship into the Future

Jason Liberty, who is already running things as President and CEO, will now take on the extra job of Chairman. This means he’ll be fully in charge of Royal Caribbean Group’s plans for the future.

Liberty is clearly excited about his bigger role. He said, “I am honored 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.” He also added, “Fortunately, the company and I will continue to benefit from Fain’s experience and mentorship in his continued role as a director on our board.”

New Role for John Brock on the Board

In another board update, John Brock will now serve as the Independent Lead Director. Brock has been on the board since 2014 and already leads the committee that picks new board members and handles company rules.

Liberty pointed out how valuable Brock’s new role will be, saying, “Looking ahead, 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. 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.”