The Ritz-Carlton Yacht Collection has named Ernesto Fara as its new President and Chief Executive Officer, effective immediately.

Fara has been Chief Financial Officer for The Ritz-Carlton Yacht Collection since joining the ultra-luxury yacht operator in 2020, and was promoted to President in 2023. He succeeds Jim Murren, who takes on an active role with the brand as Executive Chairman.

“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,” said Murren.

“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 embodies that promise deeply, and I have every confidence he will carry it forward with care and clarity,” Murren said.

As the brand continues to evolve the guest experience, expand its fleet presence, and define the future of luxury travel at sea, this transition supports the company’s ongoing growth and position at the forefront of the ultra-luxury cruise category, the company said.

As President, Fara has led guest experience, operations, finance, sales and marketing, and technology. In his capacity as CFO, he oversaw the development and financing of the company’s newest yachts, Ilma and Luminara, which launched in September 2024 and July 2025.

“I’m honoured to step into this role at such an important stage for The Ritz-Carlton Yacht Collection,” Fara said.

“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 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.”