Sarah Bretz, ContributorRoyal Caribbean Group announced today that Richard Fain, Chair of the Board of Directors since 1988, will be stepping down from his role as Chairman in the fourth quarter of 2025. He’s not leaving the board entirely, though — he’ll remain as a Director on the Board. Jason Liberty, Royal Caribbean Group President and CEO since January 3, 2022, was elected by the Board of Directors to succeed Fain as Chairman and CEO.
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.
“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,” said Liberty. “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. 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.”
“It is time to hand the wheel to the next generation of exceptional talent at RCG, and I am very confident that under Jason’s strong leadership, the Royal Caribbean Group will accelerate to even greater heights in the years ahead,” noted Fain.
Not only was Fain Chair of the Board of Directors at Royal Caribbean Group since 1988, but he also assumed the role of CEO of the company that same year. He stepped down from that position in January 2022.
