Royal Caribbean’s Chief Executive Officer, Richard Fain, is stepping down after more than three decades with the cruise line.
Mr. 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 after the company teamed up with rival Norwegian Cruise Line to form a task force to help develop safety standards for restarting the cruise industry.
Royal Caribbean became the first major cruise operator to resume operations from US ports in June.
During his time with Royal Caribbean, Mr 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.
Current Finance Chief Jason Liberty will takeover the role of CEO.
Mr. Liberty will tasked with taking the company back to pre-pandemic levels as sailing operations slowly restart more than a year after operations were suspended.
Mr Fain will step down in January 2022.
