Starwood Hotels & Resorts Worldwide has announced that Frits van Paasschen has resigned, by mutual agreement with the board of directors, as president, CEO, 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.
“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,” says Bruce W. Duncan, chairman of the board. “He’s put innovation and technology leadership at the forefront, while building a culture of collaboration across a dynamic organization. On behalf of the board, I want to thank Frits for his outstanding service and wish him the best in his future endeavors.”
Aron has served at various times on the audit committee, capital committee, corporate governance and nominating committee, and compensation and option committee, which he chaired. He served as CEO of the Philadelphia 76ers from 2011 through 2013. From 1996 through 2006, Aron was chairman and CEO of Vail Resorts, Inc., an owner and operator of ski resorts and hotels.
