Of course, no details about the scandal were mentioned and Starwood EVP and CFO Ron Brown had only high praise for the embattled auditor. "Arthur Andersen has served as Starwood's independent auditor since the acquisition of ITT Corp. in early 1998," he stated. "We would like to thank Arthur Andersen for their efforts on behalf of Starwood, and particularly those individuals with whom we have worked."
The E&Y appointment, which is yet to be filed with the SEC, will go to shareholders for ratification at the company's May 17 annual meeting.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
