New CEO Leader for SS Parent, RCL??!!

[TLCOhio]

As I posted on the "SS Future" thread, I thought I would share here about this news from the Seatrade publication this morning.  

 

They had this headline: “Jason Liberty to succeed Richard Fain as Royal Caribbean CEO” with these highlights: “Richard Fain, whose innovations during more than 33 years as CEO of the Royal Caribbean Group helped shape the modern cruise industry, has decided to step down as CEO on Jan. 3.  CFO Jason Liberty will succeed him as CEO and join the board, which Fain will continue to chair.  The third-longest serving CEO among current S&P 500 leaders, Fain's storied career is defined by the innovations he championed involving every aspect of cruising — from revolutionary ship design to major sustainability efforts to the technologies and ground-breaking features that enriched the on-board experience for millions of passengers.  Liberty joined the Royal Caribbean Group in 2005 and served in several financial, strategic and operational roles before becoming CFO in 2013. His operational duties have expanded over the years and gone well beyond the responsibilities normally associated with a CFO.”

 

Having listened in during the past two years to the quarterly Wall Street analysts reports and Q/A sessions with both Fain and the CFO, I kind of been able to know a decent amount about both of them.  They are very, very different personalities and styles.  Did not realize that Fain had been in charge that long.  Interesting timing by Fain to be leaving now.  According to web sources, Fain is age 72, but he seemed to me to be much younger as I listened to him, sensed his energy, style and vigor, etc.   

 

Things are getting better for the cruise industry, but it will take much more time to get back to a real “normal” AND dig out of their current, deep financial hole.  Jason Liberty is more of a “bean-counter” finance guy.  Yes, he is very smart and savvy, but does he really understand customers and their needs, motivations, etc.????

 

Added reactions, background and thoughts?  Am I fair or unfair as to how I characterize these two business leaders and the questions for the future?  Anyone have additional insights and experiences as to the leadership direction to expect from Jason Liberty as he guides Silversea and the other other RCL companies and ships?

 

Full story at: 

https://www.seatrade-cruise.com/people-opinions/jason-liberty-succeed-richard-fain-royal-caribbean-ceo

 

THANKS!  Enjoy!  Terry in Ohio

 

Norway Coast/Fjords/Arctic Circle cruise from Copenhagen, July 2010, to the top of Europe. Scenic visuals with key tips. Live/blog at 242,939 views.

www.boards.cruisecritic.com/showthread.php?t=1227923

[ronrick1943]

Don’t forget you can’t get revenue with people cruising on the ships—needs to be more than a bean counter.

[brimary]

Have not heard of the new boss before so fingers are all x

[rkacruiser]

On 11/9/2021 at 11:20 AM, TLCOhio said:

Liberty joined the Royal Caribbean Group in 2005 and served in several financial, strategic and operational roles before becoming CFO in 2013. His operational duties have expanded over the years and gone well beyond the responsibilities normally associated with a CFO.”

 

On 11/9/2021 at 11:20 AM, TLCOhio said:

Yes, he is very smart and savvy, but does he really understand customers and their needs, motivations, etc.????

 

I know Mr. Liberty not at all, but I have seen video comments that Mr. Fain have made and read enough RCI's Annual Report to have an impression of him.  And, it is positive.  Mr. Fain seems to me to be a "people person".  The most recent example of this was when Celebrity Edge went back into service.  Many RCI's executives, including Mr. Fain, was aboard for that first sailing.  There was a You Tube video posted of Mr. Fain in the ship's Martini Bar, behind the bar (with some assistance from a bartender) in performing some of the "martini magic" that those bartenders are noted for.  Clearly, he was enjoying the experience and interacting with the guests sitting at the bar.  That mind set of his has helped to make RCI a successful company.  

 

Based on what was posted about Mr. Liberty's experience, the fact that he has had "operational" experience in addition to the financial side of the business, maybe, ought to be a positive sign that he has worked with Mr. Fain long enough to acquire the skills to also be a "people person".  

 

My opinion:  there has been a recent example of a cruise line President being appointed at a cruise line that had zero cruise line/cruise guest experience.  That gentleman is no longer in the Executive Suite in Seattle.  

 

I am hopeful Mr. Liberty will continue the success of RCI.  I wish him well!  

[TLCOhio]

On 11/10/2021 at 3:58 PM, rkacruiser said:

My opinion:  there has been a recent example of a cruise line President being appointed at a cruise line that had zero cruise line/cruise guest experience.  That gentleman is no longer in the Executive Suite in Seattle.  I am hopeful Mr. Liberty will continue the success of RCI.  I wish him well!  

 

Very good above comments from our SW Ohio neighbor.  Yes, we are monitoring now more about the new Royal Caribbean CEO to see how he navigates these choppy water with the current cruise environment.  

 

From this below-linked website, this trade publication had this headline: “Jason Liberty tells Royal Caribbean travel advisors he'll give regular updates” with these highlights: “In this, his eighth day on the job, Liberty's immediate priorities are listening and learning by spending time with travel partners, employees and customers, along with the company's return to service, with about 80% of its fleet up and running.  Addressing Omicron's impact, he indicated business in Q2 and beyond remains 'very much in line with expectations.'   'It's really clear there's strong demand for cruise. People are just looking for consistency,' he said, mentioning the CDC's role and adding that travel partners' advocacy will help people to better understand how cruises are operating.  Liberty explained his former CFO duties had gone beyond finance, with additional responsibilities for supply chain, Silversea Cruises and the joint venture with TUI Cruises and Hapag-Lloyd Cruises. These involved operations that helped prepare him for the CEO job.  His favorite past role was heading strategy at a time when Royal Caribbean had huge growth plans and had to globalize its business. Being involved in commercial strategies and focusing on how to build quality demand in different parts of the world 'was a lot of fun.' ”

 

After the open style and perceived honesty of former CEO Richard Fain, people will be watching closely the performance, style and leadership of Jason Liberty.  Is he just a "bean-counter" or are his skill sets ready for "prime time" in the top position of Royal Caribbean?  Good to see that the new CEO was closely involved as CFO with the many issues related to Silversea.  Clearly he knows much on Silversea and we will watch to see if and how Silversea maintains its above-average quality, standards and style.  

 

Full story at:

https://www.seatrade-cruise.com/people-opinions/jason-liberty-tells-royal-caribbean-travel-advisors-hell-give-regular-updates

 

THANKS!  Enjoy!  Terry in Ohio  

 

Amazon River-Caribbean 2015 adventure live/blog starting in Barbados. Many visuals from this amazing river and Caribbean Islands (Dutch ABC's, St. Barts, Dominica, Grenada, San Juan, etc.).  Now at 69,237 views:

www.boards.cruisecritic.com/showthread.php?t=2157696

[Ant@sea]

This appointment follows Carnivals new CEO, being from the financial side of the business. Keep in mind the billions and billions of dollars that cruise lines have borrowed over the past 2 years. At this point a person with a firm grip and understanding of finance is critical to enable the. To service the debt in an expedient manner and restore the balance sheet to a healthy state following 2 years with several billion dollars lost each year.  
as most finance people aren’t  as adept at PR as sales peop,e, I’d expect the to promote their senior VP’s of sales and marketing to be their front men and company face to the public and trade.