ROYAL CARIBBEAN GROUP ANNOUNCES BOARD LEADERSHIP TRANSITION PLANS

Rhea-AI Summary

Royal Caribbean Group (NYSE: RCL) announced significant leadership changes, with long-serving Chairman Richard Fain stepping down in Q4 2025 after 37 years in the role. Current President and CEO Jason Liberty will succeed Fain as Chairman and CEO, combining both positions. Fain, who has been instrumental in shaping the modern cruise industry since 1988, will remain as a Director on the Board. The company also appointed John Brock, a board member since 2014 and former CEO of Coca-Cola Enterprises and InBev, as Independent Lead Director. These changes mark a significant transition in Royal Caribbean's leadership structure, with Liberty expressing commitment to delivering enhanced vacation experiences and shareholder value.

Positive

• Smooth leadership transition with Richard Fain remaining on the Board, ensuring continuity and expertise retention
• Jason Liberty's dual role as Chairman and CEO could streamline decision-making processes
• Appointment of experienced John Brock as Independent Lead Director adds valuable industry expertise from his Coca-Cola and InBev leadership roles

Negative

• Concentration of power with combined Chairman and CEO roles could raise corporate governance concerns
• Loss of Richard Fain's direct leadership after 37 years could impact strategic direction

MIAMI, June 6, 2025 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) today announced that Richard Fain, Chair of the Board of Directors since 1988 and a visionary leader whose contributions helped shape the modern cruise industry, will be stepping down from his role as Chairman in Q4 2025. Fain will 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 and will assume the role in Q4 2025.

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 Richard Fain.

"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. 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," Liberty added.

About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is a vacation industry leader with a global fleet of 67 ships across its five brands traveling to all seven continents. With a mission to deliver the best vacations responsibly, Royal Caribbean Group serves millions of guests each year through its portfolio of best-in-class brands, including Royal Caribbean, Celebrity Cruises, and Silversea; and an expanding portfolio of land-based vacation experiences through Perfect Day at CocoCay and Royal Beach Club collection. The company also owns a 50% joint venture interest in TUI Cruises, which operates partner brands Mein Schiff and Hapag-Lloyd Cruises. With a rich history of innovating, Royal Caribbean Group continually delivers exciting new products and guest experiences that help shape the future of leisure travel. Learn more at royalcaribbeangroup.com or rclinvestor.com. 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/royal-caribbean-group-announces-board-leadership-transition-plans-302475251.html

SOURCE Royal Caribbean Group

FAQ

When will Richard Fain step down as Chairman of Royal Caribbean (RCL)?

Richard Fain will step down as Chairman of Royal Caribbean Group in Q4 2025, after serving in the role since 1988.

Who will be the new Chairman and CEO of Royal Caribbean (RCL)?

Jason Liberty, the current President and CEO, will become Chairman and CEO of Royal Caribbean Group in Q4 2025.

How long has Richard Fain been Chairman of Royal Caribbean (RCL)?

Richard Fain has served as Chairman of Royal Caribbean Group since 1988, a tenure of 37 years by the time he steps down in Q4 2025.

Will Richard Fain completely leave Royal Caribbean (RCL)?

No, Richard Fain will remain as a Director on Royal Caribbean Group's Board after stepping down as Chairman.

Who is the new Independent Lead Director of Royal Caribbean (RCL)?

John Brock, a board member since 2014 and former CEO of Coca-Cola Enterprises and InBev, has been appointed as Independent Lead Director.