Viking Holdings, operator of river and ocean cruises around the globe, has promoted Leah Talactac to the role of CEO, with company founder Torstein Hagen, who formerly served as chairman and CEO, named executive chairman of the company. Hagen will also continue to serve as chairman of Viking’s board of directors.
Talactac joined Viking in 2006 and, alongside Hagen, led the company’s initial public offering in 2024. In January 2025, Talactac was named president of the company, while also continuing to serve as chief financial officer.
With Talactac now serving as president and CEO of Viking, the board of directors also promoted Linh Banh, executive vice president of finance, to the role of chief financial officer.
“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. “Leah’s appointment as CEO is a natural next step, and the board and I have full confidence in her ability to lead Viking with the same continuity, discipline and vision that have guided us since Viking was founded.”
In a statement, Talactac voiced both her thanks to Hagen for his long-time leadership of the company and her congratulations to Banh in taking on her new role.
“I am honored by this appointment and deeply grateful for the trust of the board and Tor,” Talactac said. “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. I also want to take a moment to congratulate Linh on her new appointment as CFO. Linh is a trusted leader within Viking, and her financial stewardship will ensure a smooth transition.”
In addition to naming Talactac as Hagen’s successor, Viking announced financial results for the first quarter of 2026. The company reported just over $1 billion in total revenue for the first quarter of 2025, an increase of 17.5% compared to the same period in 2025. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the period ending March 31, 2026, was $104.8 million, which was 43.9% above the same period in 2025.
The company’s revenue growth in 2026 comes despite a surge in operating costs, including fuel expenses. For the first quarter of 2026, vessel operating expenses were $357.5 million, with fuel costs accounting for $41.4 million of that.
So far in 2026, Viking has sold 92% of its passenger cruise day (PCD) capacity for 2026 and 38% for next season. Capacity PCDs for the first quarter of 2026 were up 6.6% over the same period in 2025, driven in large part by the addition of an ocean-going cruise ship. Total occupancy for first-quarter cruises was 94.7%.
“During the quarter, we also continued to make progress increasing our fleet and destination-focused offerings, further enhancing the experiences and value we offer our guests,” Hagen said. “As we look ahead, we remain focused on delivering on the strong demand, while continuing to invest in our future and generate sustainable, profitable growth.”
In the first quarter of 2026, Viking added two vessels to its existing fleet and announced a pair of new builds. So far this year, Viking has taken delivery of the Viking Eldir, which is operating in Europe, and the company acquired the Viking Yidun from China Merchants Viking Cruises Limited. The company also announced it will build two river vessels to operate in Egypt, with delivery expected in 2028.
Before the end of the year, Viking expects to take delivery of two new blue-water vessels and nine river vessels.
