Richard Fain to Step Down as Royal Caribbean Group Chairman

Royal Caribbean Group’s longtime chairman Richard Fain, one of the most influential figures in the modern cruise industry, will step down from his role later this year.

Fain, who has served as Chairman of the Board since 1988, will officially transition out of the role in the fourth quarter of 2025, Royal Caribbean announced this week. He will remain on the company’s Board of Directors.

The move marks the end of an era for the cruise giant, whose rise as a global leader in vacation experiences was closely tied to Fain’s vision and leadership over more than three decades.

The company’s current President and Chief Executive Officer, Jason Liberty, has been elected by the Board to succeed Fain as Chairman while continuing in his CEO role. Liberty has led the company since January 2022 and will assume the dual position of Chairman and CEO later this year.

“Richard’s leadership has been nothing short of transformative,” Liberty said in a statement. “Under his leadership, the Royal Caribbean Group has become the leading vacation company — with industry-leading brands, ships, destinations and people.”

Fain said the time had come “to hand the wheel to the next generation,” expressing confidence in Liberty’s leadership as the company charts its future.

Alongside the leadership transition, John Brock, who has served on the Royal Caribbean Board since 2014, has taken on the role of Independent Lead Director. Brock is the former Chairman and CEO of Coca-Cola Enterprises and former CEO of InBev.

Liberty called Brock’s new role “invaluable,” citing his experience and integrity as vital to the company’s long-term governance and growth.