Executive Search for a Leading Cruise Line’s Chief Executive Officer
Business Type: International Cruise Line
Location: UK with Global Remit
Executive Search Team: Mark Charman, CEO & Founder
Our client, a private, family-owned Cruise Line business, operates a fleet of award-winning vessels across the globe. The executive search for their new Chief Executive Officer (CEO) was spearheaded by the Chairman, a member of the owning family.
Our client was familiar with the Faststream Group through our provision of executive search services to the wider maritime industry and approached us for assistance.
The Challenge
The client sought our expertise in recruiting a highly skilled CEO with a strong commercial background, ideally from the cruise or wider travel industry. This executive needed to lead the company’s continued growth and development, leveraging deep knowledge of the UK passenger market. The challenge was multifaceted:
Limited Candidate Pool: The UK cruise sector is a niche market dominated by a few key players, resulting in a limited pool of potential candidates with the required experience.
Transferable Skills: Many Senior Executives from the travel industry had commercial expertise but lacked the broader business leadership experience required for the CEO role.
Location Requirements: The role necessitated full-time presence at the client’s head office, which is situated a considerable distance outside of London, further limiting the candidate pool.
Our Approach
To overcome these challenges, we adopted a strategic and comprehensive approach to this executive search:
1. Understanding the Client’s Needs:
We conducted two in-depth meetings with the client to gain a thorough understanding of their specific requirements for the CEO role, focusing on the skills and experience needed to drive the company's growth.
2. Employer Value Proposition:
We collaborated with the client to develop a compelling employer value proposition to attract top-tier candidates, and guided their interviewing and selection process.
3. Compensation Advice:
With our knowledge of the sector we guided the client on reward strategies, including compensation and short and long-term incentives that aligned with their strategic objectives and budgetary constraints.
4. Market Mapping and Candidate Sourcing:
Leveraging our deep knowledge of the cruise sector, we mapped out UK and European Cruise Line Executives. We also identified Senior Executives from the wider travel industry with relevant experience. This process led to the creation of a long list of 100 potential candidates.
5. Proactive Candidate Engagement:
We reached out to these candidates to gauge their interest and assess their suitability for the role. Thanks to our strong industry network and brand reputation, we were able to conduct these initial screenings efficiently.
6. Comprehensive Interviews:
We conducted detailed interviews with the most relevant candidates, presenting the client’s value proposition and assessing their fit for the role.
7. Refined Shortlist:
Following multiple rounds of interviews and discussions, we presented a refined shortlist of highly qualified and interested candidates to the client. These candidates were then invited for further interviews with the client’s team in London, where our CEO, Mark Charman, participated in the interview panel.
8. Final Selection and Offer Management:
After a series of final interviews, the successful candidate was selected. We guided both the client and the successful candidate through the offer process, ensuring a smooth transition during the candidate’s notice period and up until their start date.
The Outcome
The successful candidate was an experienced Chief Commercial Officer with significant profit-leadership and general business leadership experience in the travel industry. They also possessed extensive knowledge of the UK passenger market, making them an ideal fit for the CEO role.
Since their appointment, the new CEO has received excellent feedback from the client, who reports that they are already driving positive change and growth across the organisation.
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