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Starwood Hotels names director Adam Aron as interim CEO

Staff writer |
Stamford, Ct., USA - February 18, 2015, Stamford, Ct., USA - Starwood Hotels & Resorts Worldwide, Inc. announced that Frits van Paasschen has resigned by mutual agreement with the board of directors as president, chief executive officer and a director.

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Mr. van Paasschen has been Chief Executive Officer and President of the Company since September 2007. From March 2005 until September 2007, he served as President and Chief Executive Officer of Molson Coors Brewing Company’s largest division, Coors Brewing Company, a brewing company, prior to its merger with Miller Brewing Company and the formation of MillerCoors LLC.

Prior to joining Coors, from April 2004 until March 2005, Mr. van Paasschen worked independently through FPaasschen Consulting, a consulting company, and Mercator Investments, a private equity firm, evaluating, proposing, and negotiating private equity transactions.

Prior thereto, Mr. van Paasschen spent seven years at Nike, Inc., a designer, developer and marketer of footwear, apparel and accessory products, most recently as Corporate Vice President/General Manager, Europe, Middle East and Africa from 2000 to 2004.

From 1995 to 1997, Mr. van Paasschen served as Vice President, Finance and Planning at Disney Consumer Products, a business segment of The Walt Disney Company that extends the Disney brand to a range of merchandise, and earlier in his career was a management consultant for eight years at the global management consulting firm of McKinsey & Company and the Boston Consulting Group.

Adam Aron, a Starwood Director since 2006, has been named Chief Executive Officer on an interim basis while the Board conducts a search for a permanent CEO that will include both internal and external candidates. Mr. van Paasschen will continue with Starwood as a consultant to assist in the transition.

Mr. Aron has been a director of Starwood since 2006, serving at various times on the Audit Committee, Capital Committee, Corporate Governance and Nominating Committee, and Compensation and Option Committee which he chaired. Since 2006, he has been a Senior Operating Partner at Apollo Management L.P. and Chief Executive Officer of World Leisure Partners, Inc., a leisure-related consultancy.

He served as Chief Executive Officer of the Philadelphia 76ers from 2011 through 2013. From 1996 through 2006, he was Chairman and Chief Executive Officer of Vail Resorts, Inc., an owner and operator of ski resorts and hotels. From 1993 through 1996, he was President and Chief Executive Officer of Norwegian Cruise Line.

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