Following the resignation of Adam Aron, Starwood Hotels & Resorts Worldwide has appointed executive vice president and CFO Thomas B. Mangas to CEO.
“On behalf of Starwood’s board of directors, I would like to thank Adam for stepping in to lead our company during a pivotal time in Starwood’s history,” says Bruce W. Duncan, Starwood’s chairman of the board. “He accomplished much during his tenure as CEO 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.”
Adds Aron: “It has been a privilege to lead an extraordinary team of people around the world who, through their creativity and innovation, have changed the hospitality industry and the hotel experience in meaningful ways. I am proud of what we have accomplished together with reinvigorated existing brands, the launch of new brands, accelerated growth, and our game-changing merger with Marriott to soon become the biggest and best hotel company in the world.”
The company also promoted Alan M. Schnaid—who previously served as senior vice president, corporate controller, and principal accounting officer—to CFO, while Robyn Arnell—who previously served as vice president of finance and accounting services—was named corporate controller.
Mangas initially joined Starwood in 2014, responsible for the company’s global accounting, tax, treasury, strategic planning, corporate development, risk management, investor relations, and supply chain functions.
“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,” says Mangas. “I look forward to continued partnership with Alan and Robyn, two longtime leaders who are examples of the strength of Starwood’s team.”
Mangas moved to Starwood from Armstrong Floor Products—a division of Armstrong World Industries, where he oversaw finance, investor relations, information technology, and global business services as senior vice president and CFO from 2010 to 2013. Prior to joining Armstrong, Mangas held various senior finance and accounting positions with the Procter & Gamble Company for 20 years.
Having joined Starwood in 1994, Schnaid has served as vice president and controller since 1996, senior vice president and corporate controller since 1998, and as principal accounting officer since 2005.
Arnell is a certified public accountant who joined Starwood in 1998. In 2012, she was appointed vice president of finance and accounting services, a role in which she led the company’s corporate and hotel shared service finance operations.
Starwood does not anticipate the change in leadership to affect the acquisition by Marriott International, which is still slated to close in mid-2016.
