Starwood names new chief executive

Starwood names new chief executive

Thomas Mangas, currently chief financial officer, has been named chief executive of Starwood Hotels & Resorts.

He will take up the role on December 31st.

The appointment follows the resignation of Adam Aron, who is leaving Starwood at the end of the month to become chief executive of AMC Entertainment Holdings.

Starwood continues to expect its previously announced acquisition by Marriott International to close by mid-year 2016.

The company also announced that Alan Schnaid, currently senior vice president, corporate controller of Starwood, will be appointed chief financial officer, and
Robyn Arnell, currently vice president, finance and accounting services, will assume the role of corporate controller.

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Starwood chairman Bruce Duncan said: “On behalf of Starwood’s board, I would like to thank Adam for stepping in to lead our company during a pivotal time in Starwood’s history.

“He accomplished much during his tenure as chief executive, and contributed in countless ways as a member of our Board for nearly a decade.

“He leaves the company in excellent hands with Tom, a valued leader on our team who was instrumental in our review of our strategic alternatives and will continue to oversee the completion of our combination with Marriott,” Duncan added.

Mangas has been executive vice president and chief financial officer since September 2014, responsible for the global accounting, tax, treasury, strategic planning, corporate development, risk management, investor relations and supply chain functions.

Mangas added: “I am thrilled to take on this new role as we continue to provide our guests with Starwood’s unique brand of hospitality, grow our footprint around the globe, drive value for our hotel owners and shareholders, and ultimately bring together two great companies and the talent within.

“I look forward to continued partnership with Alan and Robyn, two long-time leaders who are examples of the strength of Starwood’s team.”