Adam Aron leaves Starwood Hotels & Resorts

Adam Aron has resigned from his position as CEO of Starwood Hotels & Resorts Worldwide.

Aron is due to leave Starwood at the end of this month. After this, Aron is expected to take up the new position as chief executive officer and president of AMC Entertainment Holdings.

Commenting on the move, Aron said: “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.”

Following Aron’s resignation, Starwood has promoted its current executive vice president and CFO, Thomas B. Mangas, to the role of CEO. The new CEO has been with Starwood since September 2014.

Mangas joined the company from Armstrong Floor Products, a division of Armstrong World Industries, where he had been executive vice president and CEO. Before this, Managas worked with The Procter & Gamble Company for 20 years.

Mangas commented: “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.”

Other recent appointments within the company include the promotion of current senior vice president, corporate controller and principal accounting officer, Alan M. Schnaid, to the position of CFO. Robyn Arnell, who is currently vice president of finance and accounting services, will be appointed as the new corporate controller.

Starwood chairman of the board Bruce W. Duncan said: “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. 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.”

Starwood expects the acquisition of Marriott International Inc. to be finalised by mid-2016.