Ritz-Carlton Yacht Collection appoints new chief executive

The Ritz-Carlton Yacht Collection has named its current president Ernesto Fara as the company’s new chief executive.

Fara will succeed Jim Murren, who will continue to work with the brand as executive chairman.

Fara first joined the company in 2020 as chief financial officer and board member, during which time he oversaw the development and financial strategy behind the new Ilma and Luminara yachts. He was subsequently named company president in 2023.

In his new role, Fara will provide strategic direction as The Ritz-Carlton Yacht Collection continues to “expand its fleet presence” and “evolve the guest experience”.

Fara said: “I’m honoured to step into this role at such an important stage for The Ritz-Carlton Yacht Collection. With the successful launch of our third yacht, Luminara, and our continued expansion into new regions, we’re entering a thoughtful next phase of growth.

“I want to thank Jim [Murren] for his leadership and partnership over the past few years. He’s played a central role in shaping the brand, and I’m committed to carrying forward the vision we share for creating immersive and unforgettable guest experiences at sea.”

Murren added: “It’s been a privilege to lead The Ritz-Carlton Yacht Collection during such a meaningful chapter. Since joining, we’ve expanded from one to three yachts and established a strong foundation for continued global growth.

“This brand was created to redefine luxury travel at sea, and that vision has resonated with guests who are looking for a more personal, thoughtful way to explore the world. Ernesto [Fara] embodies that promise deeply, and I have every confidence he will carry it forward with care and clarity.”