Viking founder Torstein Hagen is stepping down as chief executive officer after nearly three decades leading the company’s growth into one of the world’s largest cruise brands.

The leadership change was announced ahead of Viking’s first-quarter earnings call on Thursday. Hagen will transition into the role of executive chairman while continuing to serve as chairman of Viking’s board of directors.

Taking over as CEO is Leah Talactac, who previously served as president and chief financial officer. Viking also announced that executive vice president of finance Linh Banh will succeed Talactac as CFO.

Talactac will report directly to Viking’s board and continue leading the company’s executive committee as she assumes the top leadership position.

In a statement, Talactac said she was honored by the appointment and thankful for the confidence shown by the board and Hagen.

“Tor and our entire executive team have built a phenomenal company over the last 29 years, and I am delighted to lead Viking as we continue to deliver meaningful experiences for our guests and execute our long-term strategy,” she said.

Hagen founded Viking in 1997 and helped transform the company into the world’s largest river cruise operator before expanding aggressively into ocean and expedition cruising. Under his leadership, Viking became known for its adults-focused cruising experience, destination-oriented itineraries, and rapid fleet expansion across Europe, North America, and other global markets.

Talactac has been part of Viking’s executive team since joining the company in 2006. She played a major role in the company’s financial growth and worked alongside Hagen during Viking’s 2024 initial public offering. She was promoted to president in January 2025, a move that many in the industry now see as part of a long-term succession plan.

Hagen said the transition reflects years of preparation and confidence in Viking’s management team.

“This leadership transition reflects the strength and depth of Viking's management team and the succession planning we have built over many years,” Hagen said.

Although stepping away from the CEO position, Hagen is expected to remain heavily involved in Viking’s long-term strategy and future development while supporting Talactac during the transition period.