---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-136284"
form_type: "8-K"
ticker: "RCL"
cik: "0000884887"
company_name: "ROYAL CARIBBEAN CRUISES LTD"
filed_at: "2021-11-09T23:59:59+00:00"
generated_at: "2026-06-28T11:10:00.154821+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Richard Fain steps down as CEO of Royal Caribbean; Jason Liberty named successor, effective Jan 3, 2022

## Summary
- Richard Fain to step down as CEO on Jan 3, 2022; will remain Chair of Board with additional $225K annual retainer.
- Jason Liberty, current CFO, appointed President and CEO effective Jan 3, 2022, and to Board on Nov 7, 2021.
- Naftali Holtz appointed CFO effective Jan 3, 2022; currently SVP Finance of Royal Caribbean Group.
- Liberty receives base salary of $1.2M, target annual incentive 200% of base, and target LTI of $7M.
- Holtz receives base salary of $675,000, target annual incentive 100% of base, and target LTI of $1.4M.

## SEC filing metadata
- accession: 0001104659-21-136284
- form_type: 8-K
- ticker: RCL
- cik: 0000884887
- company_name: ROYAL CARIBBEAN CRUISES LTD
- filed_at: 2021-11-09T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884887/000110465921136284/0001104659-21-136284-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884887/000110465921136284/tm2132406d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-136284
- JSON: https://secwatch.observer/filing/0001104659-21-136284.json
- Plain text: https://secwatch.observer/filing/0001104659-21-136284.txt

## Key facts
- Executive change
  Richard D. Fain changed role as Chief Executive Officer at ROYAL CARIBBEAN CRUISES LTD.
  - Action: step down
  - Role: Chief Executive Officer
  source text: Richard D. Fain gave notice of his decision to step down, effective on January 3, 2022, from his role as Chief Executive Officer of Royal Caribbean Cruises Ltd. (the “Company”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884887/000110465921136284/0001104659-21-136284-index.htm
- Executive change
  Jason T. Liberty was appointed as President and Chief Executive Officer at ROYAL CARIBBEAN CRUISES LTD.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: The Board has appointed Jason T. Liberty to the position of President and Chief Executive Officer of the Company, effective January 3, 2022, and member of the Board, effective November 7, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/884887/000110465921136284/0001104659-21-136284-index.htm
- Executive change
  Naftali Holtz was appointed as Chief Financial Officer at ROYAL CARIBBEAN CRUISES LTD.
  - Action: appointed
  - Role: Chief Financial Officer
  source text: The Board has appointed Naftali Holtz to the position of Chief Financial Officer of the Company, effective January 3, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/884887/000110465921136284/0001104659-21-136284-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.