President Of Stamford-Based Starwood Abruptly Steps Down

Starwood said Frits van Paasschen resigned by mutual consent with the board of directors.

Adam Aron will act as interim CEO while the board searches for a permanent replacement. Aron, a director at the lodgings company since 2006, is also the co-owner of the Philadelphia 76ers of the National Basketball Association.

“The board believes now is the right time to take steps to accelerate Starwood’s growth, improve performance and sharpen our focus,” Chairman Bruce Duncan said in the statement. Aron “is very familiar with our strategy, brands and leaders around the globe.”

Van Paasschen was head of the Coors unit at Molson Coors Brewing Co. before joining Starwood in 2007. He was also a corporate vice president and general manager for Europe, the Middle East and Africa for Nike Inc.

Starwood Hotels & Resorts Worldwide is one of the leading hotel and leisure companies in the world with more than 1,200 properties in 100 countries and 180,400 employees at its owned and managed properties. Starwood is am owner, operator and franchisor of hotels, resorts and residences with the following brands: St. Regis, The Luxury Collection, W, Westin, Le Méridien, Sheraton, Four Points by Sheraton, Aloft and Element. 

Click here to follow Daily Voice Stamford and receive free news updates.