Maritime Jobs
Thursday, November 7, 2024

Royal Caribbean's Long-time CEO Fain to Step Down

November 10, 2021

(Photo: Royal Caribbean)

(Photo: Royal Caribbean)

Royal Caribbean Group's Chief Executive Officer, Richard Fain, is stepping down after more than three decades with the U.S. cruise operator that is still recovering from the slump caused by the coronavirus crisis.

Finance chief Jason Liberty will takeover as CEO, Royal Caribbean said on Tuesday, and will be tasked with taking the company back to pre-pandemic levels as sailing operations slowly restart more than a year after operations were suspended.

Fain was one of the key leaders to push for a safe restart of sailings during the pandemic that wiped off half of Royal Caribbean's market valuation in 2020.

The company teamed up with rival Norwegian Cruise Line Holdings Ltd to form a task force to help develop safety standards for restarting the industry.

Royal Caribbean became the first major cruise operator to resume operations from U.S. ports in June, and booking trends for 2022 are reaching historical ranges due to pent-up demand from travelers, the company has said. read more

Fain, who will step down in January 2022, said "it was the right time to step down" with most of the company's ships operating and the group nearing a full return to cruising.

During his tenure, Fain spearheaded the company's expansion into a group with nearly 60 ships, spanning several cruise line brands including Royal Caribbean International and Celebrity Cruises.

Fain would remain chairman of the board and will work with Liberty, who joined Royal Caribbean in 2005 and took up the role of chief financial officer in 2013.

Royal Caribbean also said its senior vice-president Naftali Holtz will assume the CFO's role.


(Reporting by Aishwarya Venugopal; Editing by Shinjini Ganguli)

Featured Jobs

Medical Services Officer

Military Sealift Command

Chief Steward

Military Sealift Command

Second Assistant Engineer

Military Sealift Command

Damage Controlman

Military Sealift Command

Damage Control Officer

Military Sealift Command

Third Officer - Mixed Work Schedule

Military Sealift Command

Featured Employers

Military Sealift Command

The Military Sealift Command (MSC) is a United States Navy organization that controls most of the re

NOAA

Enjoy an exciting career with NOAA’s Office of Marine and Aviation Operations!NOAA is home to the na

GOLDEN GATE BRIDGE, HIGHWAY AND TRANSPORTATION DISTRICT

Based in San Francisco, the District consists of three operating divisions including Bridge, Bus, an

Greensea IQ

Greensea IQ is a dual-use robotics company transitioning mature solutions developed for and by the d