Starwood Hotels & Resorts Worldwide announced that Thomas B. Mangas, currently 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, Inc., which does business as AMC Theatres.
Starwood still expects its previously announced acquisition by Marriott International Inc. to close by mid-year 2016. It also announced that Alan M. Schnaid, currently senior vice president, corporate controller and principal accounting, will be appointed CFO of Starwood, and Robyn Arnell, currently vice president, finance and accounting services, will assume the role of Corporate Controller.
"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,” said Bruce W. Duncan, chairman of the board. “He accomplished much during his tenure as CEO ... [Adam] 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."
Mangas has been executive vice president and CFO with Starwood 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 the company, Mangas served as executive vice president and CEO of Armstrong Floor Products, a division of Armstrong World Industries.