Royal Caribbean Cruises Ltd
) recently promoted its Chief Financial Officer (CFO) Brian Rice to
the position of the vice chairman. In this extended role,
along with supervision of the finance department, he will also have
to look after the supply chain section. Rice will also need to
concentrate more on strategic issues.
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Apart from being the CFO of the cruise company since October, 31,
2006, Rice has also held the position of Executive Vice President
since November, 2006. He has been employed with Royal Caribbean for
over 20 years. After joining Royal Caribbean in 1989, Mr. Rice
served a variety of senior management positions, including Senior
Vice President of Revenue Performance; Vice President of Market
Planning and Development; and Director of Revenue Planning and
Brian Rice has played a pivotal role in enriching growth,
profitability and efficiency of the company. With his rich
experience in financial operations and revenue-performance
management, he will be able to do full justice to his additional
responsibility. He will continue to report to the Chairman and
Chief Executive Officer (CEO), Mr. Richard Fain.
Prior to joining Royal Caribbean, he served as director of Sales
Planning and Administration at Kloster Cruises Ltd., the former
parent company of Norwegian Cruise Line and Royal Viking Line.
The Miami, Florida-based cruise operator also incorporated other
managerial changes. It promoted Jason Liberty to the position of
senior vice president of strategy and finance. He joined the
company in 2005 and currently serves as vice president of
corporate, revenue planning and insurance. He will now oversee the
company's strategic planning, corporate planning, investor
relations, deployment and treasury functions. Liberty will continue
to report to Rice.
RCL also named its 27 year veteran, Lutoff-Perlo as executive vice
president of operations for Royal Caribbean International and Lisa
Bauer as executive vice president of global sales and marketing.
Both will continue to report to the president and CEO of Royal
Caribbean International, Adam Goldstein.
We are encouraged by the above promotions and expect the company to
flourish under such strong management leadership. Encouraged by the
news, the shares of the company also hit its 52-week high of $31.97
on September 25, 2012.
Royal Caribbean which competes with
) currently retains a Zacks #3 Rank, which translates into a
short-term 'Hold' rating. We are maintaining our long-term
'Neutral' recommendation on the stock.