Sir Richard Branson’s Virgin Voyages has a new chief executive officer, following the retirement of founding CEO Tom McAlpin.
The company’s current president, Normal Saverimuttu, has been named as its new CEO.
McAlpin is transitioning to the role of chairman of the brand’s board of directors.
The news comes as Virgin Voyages announced a $550 million capital raise to help its growth plans, led by funds managed by Ares Management’s Private Equity Group.
Virgin Voyages first launched in 2021 and has been making waves around the industry, with a heavy focus on the Caribbean in addition to other global cruise operations.
The adults-only brand sails its Caribbean itineraries out of PortMiami.
“With this new investment alongside our partners at Virgin Group and Bain Capital, we believe the Company is on strong footing to capitalize on its differentiated product and value proposition in the growing cruise industry,” said Aaron Rosen, Partner and Co-Portfolio Manager of Special Opportunities in the Ares Private Equity Group. “We believe that Virgin Voyages continues to be at the forefront of industry growth, and we look forward to working with Tom, Nirmal and the entire management team on this next chapter,” said Jordan Smith, Partner in the Ares Private Equity Group.
For more, visit Virgin Voyages.