Stamford-based Starwood Hotels & Resorts Worldwide Inc. has lost its chief financial officer to NBC Universal, also Stamford-based.
Vasant M. Prabhu has resigned from Starwood as vice chairman and CFO to join NBC Universal as its CFO. Starwood made the announcement.
Twenty-year Starwood veteran and finance leader Alan Schnaid, currently senior vice president for finance and chief accounting officer, will serve as interim CFO effective immediately.
Prabhu will continue with Starwood through May 30, “to ensure a smooth transition,” the company said.
Starwood has begun a search for a permanent replacement, assisted by executive search firm Korn Ferry, which operates internationally and maintains a Manhattan office. Both internal and external candidates will be considered.
Prabhu earned praise from Frits van Paasschen, president and CEO. “Since joining Starwood, Vasant has played an integral role in the company’s growth, as we’ve grown our brands across the globe and evolved our business toward a fee-driven model,” he said. “Vasant has been a true partner to me, especially as we navigated through the economic downturn and emerged an even stronger competitor in today’s global hospitality industry.”
Prabhu said, “It’s been a privilege to have worked with such an outstanding team during my tenure at Starwood.”
Starwood Hotels & Resorts Worldwide Inc. owns and manages 1,200 properties in 100 countries and has 181,400 employees. The company was formerly based in White Plains, N.Y. NBC Universal, formerly based in New York City, opened in Stamford in August in a former Clairol plant next to Chelsea Piers.