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Starwood President & CEO Steps Down

STAMFORD, CT—The company has appointed long time board member Adam Aron as interim overseer as it looks for a candidate to replace Frits van Paasschen.

By Rayna Katz | Updated on February 17, 2015

STAMFORD, CT—Frits van Paasschen, president, CEO and a director at Starwood Hotels & Resorts Worldwide has resigned, reportedly by mutual agreement with the board of directors. Adam Aron, a Starwood director since 2006, has been named interim CEO while the board conducts a search for a permanent CEO that will include both internal and external candidates. Starwood currently offers nine lifestyle hotel brands.

On a conference call announcing the change of leadership, Starwood chairman Bruce Duncan said, “The board has come to the conclusion that now is the right time for new leadership to drive execution of Starwood’s growth strategy and sharpen our focus on operational excellence. Our strategy remains to the same: to expand our global footprint and pipeline, expedite execution of our asset light strategy and deliver value.”

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