STAMFORD, Conn.
Starwood Hotels & Resorts Worldwide announced that Frits van Paasschen has resigned by mutual agreement with the Board of Directors as President, Chief Executive Officer and a Director.
Adam Aron, a Starwood Director since 2006, has been named CEO on an interim basis while the Board conducts a search for a permanent CEO that will include both internal and external candidates; van Paasschen will continue with Starwood as a consultant to assist in the transition.
Bruce W. Duncan, Chairman of the Board, said, “Frits has made many important contributions over the past seven years to Starwood’s successful evolution into a global company with leading lifestyle brands that possess distinct competitive advantages. He’s put innovation and technology leadership at the forefront, while building a culture of collaboration across a dynamic organization.”
van Paasschen said, “I’m proud of Starwood’s accomplishments and the growth we’ve seen around the world and across all nine of our brands. We have challenged ourselves to deliver on bold plans while continuously finding new ways to provide better experiences for our guests, and it’s clear from our progress that Starwood is now in a strong position for the future.”
Aron has been a director of Starwood since 2006, serving at various times on the Audit Committee, Capital Committee, Corporate Governance and Nominating Committee, and Compensation and Option Committee which he chaired.
Since 2006, he has been a Senior Operating Partner at Apollo Management L.P. and Chief Executive Officer of World Leisure Partners, Inc., a leisure-related consultancy. He served as Chief Executive Officer of the Philadelphia 76ers from 2011 through 2013
