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Bloomberg Surveillance

Chief Future Officer: Naftali Holtz, Royal Caribbean Group

Bloomberg Surveillance

Bloomberg

Business, News, Investing, Business News

3.81.2K Ratings

🗓️ 8 December 2022

⏱️ 24 minutes

🧾️ Download transcript

Summary

Chief Financial Officers now play a critical role in shaping corporate strategy and positioning organizations to meet future challenges. This episode focuses on Royal Caribbean Group CFO Naftali Holtz, who moved into the job at the start of 2022 when former CFO Jason Liberty was promoted to CEO. Carol Massar speaks with Holtz and Liberty about the company's comeback from a total shutdown during the pandemic, and its plans to rebuild its business and its balance sheet.

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Transcript

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0:00.0

What's on the horizon for financial markets?

0:03.6

At PGM, it's a question that over 1,400 investment professionals relentlessly research

0:09.7

in pursuit of your long-term goals.

0:12.8

Specialized across asset classes, but united in collaboration,

0:17.1

our teams provide global and local expertise.

0:20.7

Our investments shape tomorrow, today.

0:24.1

Pissue your tomorrow with PGM, a leading global asset manager.

0:31.0

In early 2020, as COVID triggered a global public health crisis,

0:36.8

the travel and tourism industry cut back service and slowed down.

0:40.9

The cruise industry went further.

0:43.0

It completely shut down.

0:45.0

A ship-sat idle operator scrambled to survive,

0:50.4

with no financial precedent to guide them.

0:53.2

All of a sudden, you know, the revenue just turns off.

0:55.9

Right. They did not teach this in business school, by the way.

0:58.6

So, you know, it turns off, and you have to figure out,

1:01.8

you know, how you're going to ensure that the company has liquidity needs

1:05.1

in order to be able to get to the other side of it.

1:07.0

No revenue at all for zero.

1:09.6

But you have costs and expenses.

1:11.0

That's right. That's right.

1:12.0

What you learn in the pandemic is that leadership really matters.

...

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