Hotel operator Starwood Hotels & Resorts Worldwide Inc. has announced that Thomas B. Mangas – current Starwood executive vice president and CFO – has been named CEO, effective December 31 2015.
The appointment follows the resignation of Adam Aron, who is leaving Starwood at the end of the month to become CEO and president of AMC Entertainment Holdings. Given the time requirements of his new role, Adam has also resigned from Starwood’s board of directors, effective December 30, 2015.
The company has also announced that current senior vice president, corporate controller and principal accounting officer, Alan M. Schnaid, will be appointed CFO, and Robyn Arnell, currently vice president of finance and accounting services at Starwood, will assume the role of corporate controller.
On his time at Starwood, Adam Aron says: “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.”
Thomas Mangas has been Starwood's executive vice president and CFO since September 2014, responsible for the global accounting, tax, treasury, strategic planning, corporate development, risk management, investor relations and supply chain functions. Prior to joining Starwood, Thomas served as executive vice president and CEO of Armstrong Floor Products – a division of Armstrong World Industries. Previously, Thomas spent 20 years at The Procter & Gamble Company in increasingly senior finance and accounting positions.
Thomas comments: “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 longtime leaders who are examples of the strength of Starwood’s team.”
Starwood continues to expect its previously announced acquisition by Marriott International Inc. to close by mid-year 2016.