Royal Caribbean Group’s Richard Fain Is Stepping Down as Chairman of the Board

Richard Fain will be stepping down from his position as Royal Caribbean Group’s chairman of the board—a role he’s held since 1988.

Fain will remain on the board as a director. Current CEO Jason Liberty will succeed Fain as chairman by end of year (Q4 2025).

Royal Caribbean Group, which includes Royal Caribbean International, Silversea Cruises, and Celebrity Cruises, made the announcement today.

“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.”

Currently, Liberty also serves as chairman for the Cruise Lines International Association (CLIA), having taken over from MSC Cruises’ Pierfrancesco Vago in 2024.

Fain stepped down as Royal Caribbean Group’s CEO in 2022 after serving in the role for more than 30 years. He is a respected figure in the industry, having received numerous accolades over his career, including the ASTA Lifetime Achievement Award, the Ellis Island Medal of Honor, and membership in the South Florida Business Hall of Fame.

“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,” said Fain.