Royal Caribbean Group today announced in a press release that Richard Fain, chair of the board of directors since 1988, will be stepping down from his role in the fourth quarter of 2025.

Fain will remain as a director on the board. Jason Liberty, Royal Caribbean Group’s president and CEO since Jan. 3, 2022, was elected by the board of directors to succeed Fain as chairman and CEO and will assume the role in the fourth quarter.

The company also said that 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 the independent lead director.

“Fain’s leadership has been nothing short of transformative. Under his leadership, the Royal Caribbean Group has become the leading vacation company with

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