Virgin Voyages reveals new CEO and $550m cash boost

McAlpin is set to retire as CEO and transition to a new role as chair and will be succeeded by Virgin Voyages’ current president and chief experience officer Nirmal Saverimuttu.

The announcement comes as Virgin Voyages revealed the multimillion capital boost led by private equity group Ares Management, as well as additional funding from existing investors including Virgin Group and Bain Capital.

The line, which launched in August 2021 and currently operates three ships, said its new investment would allow “rapid expansion” into international markets.

Its expansion includes the addition of 19 new destinations and 27 new itineraries to its schedule. However, it confirmed on Thursday (7 September) the launch of its fourth vessel, Brilliant Lady, has been delayed due to "unexpected" construction, supply chain and staffing challenges.

McAlpin said: “While I will miss the day-to-day, I believe it is the right time to step aside as CEO. Nirmal is a great friend and experienced leader who lives and breathes the Virgin Voyages culture. I know he will help take this amazing brand and Crew to new heights, and I look forward to continuing to support the leadership team as chairman.”

“I want to send our deepest thanks, on behalf of all our crew and the board, to Tom for his leadership and passion for the business. We are so grateful for all he has done and are thrilled to continue to partner with him as our chairman,” said Saverimuttu.

“Virgin Voyages is a beloved brand because of our crew’s dedication and passion for delivering epic experiences for our guests. I am looking forward to working with the Ares team and our existing investors to deliver on our growth and expansion plans as we look ahead to our very bright future.”