RCCL Appoints New CFO

Wednesday, June 18, 2003
Royal Caribbean Cruises Ltd. has named senior executive Luis E. Leon as its Executive Vice President and Chief Financial Officer. Leon will assume broad-reaching responsibilities to formulate and manage financial and investment strategy, policies and plans. Leon will report directly to Richard D. Fain, Chairman and CEO. Leon has a unique background with over two decades of financial and investor relations experience where he has focused on achieving efficiencies that impact the bottom line. Most recently, Leon has been Chief Financial Officer for Graphic Packaging International Corporation, a position that involved significant cost management initiatives and other transactions including a stock swap merger and acquisition. "We are delighted to have a senior executive of Luis' stature and experience join Royal Caribbean's already strong financial team," Fain said. "Luis has a proven track record of success, and has particularly strong experience in cost control and corporate governance." "I am pleased and excited about joining Royal Caribbean," Leon said. "From my perspective, Royal Caribbean is a special company, in an exciting and rewarding industry." Bonnie Biumi, an experienced Royal Caribbean finance executive who has held the position of interim CFO, will continue in the position of Senior Vice President and Treasurer, and will report directly to Leon. "Bonnie has done an outstanding job while in her interim CFO role," Fain said. "It has been one of the most challenging years in the industry's history, and I can't say enough good things about the job she has done while also continuing to perform all of her other responsibilities."
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