The Ritz-Carlton Yacht Collection’s Founder and CEO, Douglas Prothero, is stepping down from his current leadership position after 10 years leading the company.
Succeeding Prothero as CEO is Jim Murren (lead image), a global hospitality leader credited with leading MGM Resorts International, Las Vegas and the State of Nevada, through a period of expansion and environmentally sustainable, technological innovation.
Prothero will continue as a Director on the Ritz-Carlton Yacht Collection’s Board of Directors and will become a Strategic Advisor to the Executive Chairman and CEO. He founded the company in 2013 and has been the visionary leader instrumental in driving the brand’s growth from inception. The first of three yachts, Evrima, launched in October 2022.
Subscribe to LATTE Cruise’s free eNewsletter to keep up to date with everything in the luxury cruise space.
“I am proud of what our team has accomplished together in raising the bar for luxury travel at sea and look forward to supporting the Company’s continued success,” Prothero said. “It’s an exciting time to be an innovator in the maritime space.”
Murren who has been Executive Chairman since January 2023 will be stepping into the CEO role alongside his chair responsibilities. He possesses decades of experience in hospitality and entertainment having been Chairman and CEO of MGM Resorts International from 2008 to 2020 and presently as Co-Chairman of Cirque du Soleil.
Throughout his career, Murren’s strategic vision has generated world-class entertainment while fostering innovation and sustainability. He is known to embrace emerging technologies to expand into new markets and creating transformational luxury brands around the world. He has successfully navigated both emerging and developed markets creating significant value against the backdrop of multiple global financial crises.
“We are grateful for Doug’s leadership and his dedication to the Company since its inception,” Murren remarked.
“Under his guidance, the Company has achieved significant milestones and he has been an inspirational leader and driving figure in pioneering a new luxury concept in cruise and super yachting.”
“I am honoured to take the role of CEO and look forward to collaborating with the talented team to continue to drive growth and innovation,” Murren said.
Meanwhile, Ernesto Fara – The Ritz-Carlton Yacht Collection’s Chief Financial Officer – has been promoted to President and CFO.
Fara started with the Company in 2020 as its CFO and Board Member, after six years as CFO and Board Member of Silversea Cruises. He directed the implementation of the Company’s fleet deployment as he originated and financed the two new superyachts, Ilma and Luminara, slated to set sail in 2024 and 2025 respectively.
“Ernesto has over ten years of experience in the luxury cruise industry in business development, sales and marketing, and operations,” Murren said.
“He has extensive experience in strategic planning and performance improvement programs. I look forward to working closely with Ernesto and our talented team as we propel the Company forward.”