Rare lv2cruisgrl Posted November 9, 2021 #1 Share Posted November 9, 2021 https://www.cruisehive.com/royal-caribbean-groups-richard-fain-stepping-down-as-ceo/59425 Link to comment Share on other sites More sharing options...
Rare mahdnc Posted November 9, 2021 #2 Share Posted November 9, 2021 Link to comment Share on other sites More sharing options...
bikerunner Posted November 9, 2021 #3 Share Posted November 9, 2021 Interesting, not sure of a fan of the CFO taking over as this is a numbers guy. Will see what happens over the next few months..... 1 Link to comment Share on other sites More sharing options...
TeeRick Posted November 9, 2021 #4 Share Posted November 9, 2021 Agree- Interesting that they are replacing him with the CFO and not one of the cruise line chief execs like LLP or Michael Bayley. Link to comment Share on other sites More sharing options...
bikerunner Posted November 9, 2021 #5 Share Posted November 9, 2021 7 minutes ago, TeeRick said: Agree- Interesting that they are replacing him with the CFO and not one of the cruise line chief execs like LLP or Michael Bayley. In a sense it does make sense, they have a mass of debt that needs to be figured out an addressed. Over 20 billion so that will need to be paid down or they will be completely screwed in next few years Many companies in same boat overall with this issue. Link to comment Share on other sites More sharing options...
Rare graphicguy Posted November 9, 2021 #6 Share Posted November 9, 2021 Good for him. He just successfully navigated the most trying time in the industry's and certainly, the company's history. He deserves to back away from the day-to-day and take a roll much less demanding. 8 1 Link to comment Share on other sites More sharing options...
Rare lv2cruisgrl Posted November 9, 2021 Author #7 Share Posted November 9, 2021 Would be nice if they could get the IT department fixed. Hope the ne bean counter doesn't up the prices! 1 1 Link to comment Share on other sites More sharing options...
Rare lv2cruisgrl Posted November 9, 2021 Author #8 Share Posted November 9, 2021 Just now, lovrccl said: Would be nice if they could get the IT department fixed. Hope the new bean counter doesn't up the prices! Link to comment Share on other sites More sharing options...
Rare NutsAboutGolf Posted November 9, 2021 #9 Share Posted November 9, 2021 Should be noted he will remain chair of board 1 Link to comment Share on other sites More sharing options...
TeeRick Posted November 10, 2021 #10 Share Posted November 10, 2021 I did find Richard Fain's YouTube chats and updates during the worst of the pandemic both enjoyable and informative. 4 Link to comment Share on other sites More sharing options...
miched Posted November 10, 2021 #11 Share Posted November 10, 2021 Am on board a ship now. I mentioned to the captain that he stepped down. The captain said he will still have influence and he highly respected him as someone that was very knowledgeable about the cruise industry. Happy cruising 🌊🚢🇺🇸🌅 1 1 Link to comment Share on other sites More sharing options...
Rare NanaChar Posted November 11, 2021 #12 Share Posted November 11, 2021 What I found interesting is the article in Cruise Critic. They mentioned Richard Fain being the head of the Royal Caribbean Group. Then fawned how he put more attractions on the RC ship, how he was in charge to bring the largest ship on the sea to cruising and the innovation he brought to the newer RC ships. The only mention of Celebrity and its sister companies was that he brought them into the RCG fold. But, what picture did they post????? 1 Link to comment Share on other sites More sharing options...
Brad1185 Posted November 11, 2021 #13 Share Posted November 11, 2021 He needed to go. Link to comment Share on other sites More sharing options...
LGW59 Posted November 11, 2021 #14 Share Posted November 11, 2021 52 minutes ago, NanaChar said: What I found interesting is the article in Cruise Critic. They mentioned Richard Fain being the head of the Royal Caribbean Group. Then fawned how he put more attractions on the RC ship, how he was in charge to bring the largest ship on the sea to cruising and the innovation he brought to the newer RC ships. The only mention of Celebrity and its sister companies was that he brought them into the RCG fold. But, what picture did they post????? Huh?!? Link to comment Share on other sites More sharing options...
Rare C-Dragons Posted November 11, 2021 #15 Share Posted November 11, 2021 (edited) On 11/9/2021 at 10:40 AM, TeeRick said: Agree- Interesting that they are replacing him with the CFO and not one of the cruise line chief execs like LLP or Michael Bayley. No need to at this point. It's all about the $$$$ Imo. Fain gets to step down and keep his Golden Parachute. LLP and Bayley will stay at the helm of their respective Lines with their current salaries. Edited November 11, 2021 by C-Dragons Link to comment Share on other sites More sharing options...
Rare Honolulu Blue Posted November 11, 2021 #16 Share Posted November 11, 2021 1 hour ago, NanaChar said: What I found interesting is the article in Cruise Critic. They mentioned Richard Fain being the head of the Royal Caribbean Group. Then fawned how he put more attractions on the RC ship, how he was in charge to bring the largest ship on the sea to cruising and the innovation he brought to the newer RC ships. The only mention of Celebrity and its sister companies was that he brought them into the RCG fold. But, what picture did they post????? Of course! I'm going to assume this is a picture of the Edge just before its first voyage from the U.S. after the shutdown. It's as big a moment in recent RCG history as any, IMHO. P.S. Richard's in the middle, and I recognize the rock star on the far right. I'm very lazy, so is one of the other guys Jason "Liberty Liberty Liberty" Liberty? Link to comment Share on other sites More sharing options...
nocl Posted November 11, 2021 #17 Share Posted November 11, 2021 On 11/9/2021 at 9:08 AM, lovrccl said: Considering that all of the products that the cruise lines have to buy - Food, Fuel, Alcohol, etc are going up in price one would certainly expect that cruise prices will also go up. Link to comment Share on other sites More sharing options...
TeeRick Posted November 11, 2021 #18 Share Posted November 11, 2021 40 minutes ago, nocl said: Considering that all of the products that the cruise lines have to buy - Food, Fuel, Alcohol, etc are going up in price one would certainly expect that cruise prices will also go up. Yes I would bet on that! Link to comment Share on other sites More sharing options...
nocl Posted November 11, 2021 #19 Share Posted November 11, 2021 Keep in mind that Richard Fain headed the company during the golden age of cruising. Rapid expansion, many new ships and innovation, expanding margins. The next few years are going to be much more fiscally demanding and not nearly as much fun for whoever in in operational control of the company. He stayed in charge and got the company through the shutdown, good time to turn the companies over to someone who is going to have to deal extremely directly with the debt and pricing issues. 1 Link to comment Share on other sites More sharing options...
grandgeezer Posted November 11, 2021 #20 Share Posted November 11, 2021 5 hours ago, nocl said: Considering that all of the products that the cruise lines have to buy - Food, Fuel, Alcohol, etc are going up in price one would certainly expect that cruise prices will also go up. They have a trigger built into fuel pricing that allows them to add a surcharge of up to $10 p.d. per person, when the price raises over $65 per barrel, with $140 p.p. max per cruise. The current price is about $82. They did this for a brief period of time, in 2009 when oil was well over $100 per barrel, but rescinded it pretty quickly. With the massive debt they have incurred they might be forced to do something sooner rather than later. Link to comment Share on other sites More sharing options...
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