Frits van Paasschen has resigned from his position as president and chief executive officer of Starwood Hotels & Resorts Worldwide, with Adam Aron taking up the CEO role on an interim basis.
The resignation was by mutual agreement with the Board of Directors, according to a statement by the company, although chairman Bruce Duncan indicated that the company was looking for a change of strategy.
“The board believes now is the right time to take steps to accelerate Starwood’s growth, improve performance, and sharpen our focus on operational excellence,” he said. “We are fortunate to have on our board a talented and experienced business builder in Adam Aron who is prepared to step into the CEO position on an interim basis.
“Adam has been a Starwood director for nearly a decade and has deep hospitality industry experience as former CEO of both Vail Resorts and Norwegian Cruise Line. He is very familiar with our strategy, brands and leaders around the globe, and we are confident Starwood won’t miss a beat as he steps in to lead the Company during this transitional period.”
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Frits van Paasschen was appointed CEO and president of Starwood by the board in September 2007, having held global management roles at Coors Brewing Company, Nike and Disney Consumer Products.
He will continue with the company as a consultant to assist in the transition, with Starwood set to conduct a search for a permanent successor both internally and externally.
"I’m proud of Starwood’s accomplishments and the growth we’ve seen around the world and across all nine of our brands," he said.
"We have challenged ourselves to deliver on bold plans while continuously finding new ways to provide better experiences for our guests, and it’s clear from our progress that Starwood is now in a strong position for the future.
"Creating this powerful global platform would not have been possible without the talented team of associates I have been honoured to work with, and I am confident that Starwood will enjoy continued success for many years to come."
Duncan paid tribute to van Paasschen’s contribution to the company, and in particular for his role in developing and growing its lifestyle brands.
"He’s put innovation and technology leadership at the forefront, while building a culture of collaboration across a dynamic organisation," he added. "On behalf of the Board, I want to thank Frits for his outstanding service and wish him the best in his future endeavours."
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