The Legacy of Royal Caribbean Group CEO Richard Fain

Over the last three-plus decades, Royal Caribbean Group CEO Richard Fain has, among many other things, spearheaded the creation of a wide range of cutting-edge ships, and most recently steered the company through the worst of the pandemic.

But what Fain, who is stepping down as CEO in January, takes the most pride in is the corporate culture he shaped during his tenure.

“In 33 years, I would hope there are a lot of specific items one could point to,” he said, “but I guess what I’m most proud of is the general inculcation of a set of values and culture at the Royal Caribbean Group, which I think has been central to our success.”

That culture, he noted, is “a culture of ethics, a of culture of excellence and a culture of doing the right thing. I think that has served Royal Caribbean very well, and I think it will serve it well in the future.”

On the subject of the company’s myriad classes of cutting-edge ships that were developed under his tenure, and which played a pivotal role in shaping cruise industry as we know it today, Fain demurred from naming a favorite.

“I have four very special children and eight extraordinary grandchildren; and we have 60 ships and I love them all equally,” he said. “What I would identify is the spirit of innovation, imagination and collaboration that led to the development of this continual learning experience, this journey that we’re on of always striving to do better than we did the last time.”

In terms of the challenges he’s faced, the most formidable was “building a solid business that will continue to be strong long after the pandemic,” Fain said.

“A lot of people have asked whether the pandemic time has been the most challenging but actually the most challenging was building that business, of making the investments, of proving that the demand was there, was in fact more challenging than dealing with the pandemic, which was a horrific problem, but you always knew that it was finite in duration.”

He added, “During my 33 years it’s been a story of continual growth – growth in scale and in the quality and the variety of products that we offer.”

Fain also touched on Royal Caribbean’s enduring partnership with travel advisors. “Our philosophy at Royal Caribbean has been one of respect of the travel advisor community,” he said. “We see them as having been a key part of our success from the very beginning and we’re here for them to be successful with us as we go to the next phase.”

He expressed optimism about the industry’s recovery from the pandemic. “I think people are tired of being locked up in their homes and I think there is a tremendous hunger to get out and to spread their wings,” he said.

“I think that will inure to the benefit of the travel industry and especially the cruise industry. Royal Caribbean is well placed to take advantage of that with the leadership team here that’s going that’s going to be led by Jason Liberty. I couldn’t be more optimistic about the future that they will develop.

“The company is coming out of the pandemic and that pathway is clear. We’re on the cusp of a whole new growth pattern. And we have a leader in Jason who’s ready and able to take us to heights.”

Going forward, Fain plans to immerse himself more thoroughly in civic and community activities. “I’ve been dissatisfied that I have not been able to devote the necessary time to that,” he said. “I’m looking forward to doing a better job at that.”

Suffice to say Fain is more than comfortable with the decision step down. “Not many people have had the privileges and chances that I’ve had. I love what I do and now I’m expecting to love it from the sidelines.”