The Ritz-Carlton Yacht Collection announced the appointment of Ernesto Fara as president and chief executive officer, effective immediately.

Fara succeeds Jim Murren, who will continue to play an active role as executive chairman, the company said in a press release.

“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.”

Fara joined The Ritz-Carlton Yacht Collection in 2020 as CFO and Board Member, bringing extensive leadership experience in the luxury cruise industry across business development, sales and marketing, and operations. He oversaw company strategy and financial operations before being elevated to the President role in 2023. 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 honored 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,” said Fara. “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.”