Starwood Hotels & Resorts Worldwide Inc. recently announced Thomas B. Mangas, currently executive vice president and CFO, has been named company CEO, effective Dec. 31.
He is replacing Adam Aron, who leaves Starwood at the end of December to become CEO and president of AMC Entertainment Holdings Inc.
Starwood in a prepared statement announcing the appointment said it continues to expect its previously announced acquisition by Marriott International Inc. to close by midyear 2016.
Starwood also announced that Alan M. Schnaid, currently senior vice president, corporate controller and principal accounting officer of Starwood, will be appointed company CFO.
And Robyn Arnell, currently vice president, finance and accounting services, will become corporate controller.
Said Mangas, “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. I look forward to continued partnership with Alan and Robyn, two longtime leaders who are examples of the strength of Starwood”™s team.”
Starwood Chairman of the Board Bruce W. Duncan praised Aron”™s leadership, saying, “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.”
Mangas has been executive vice president and CFO since September 2014, responsible for the global accounting, tax, treasury, strategic planning, corporate development, risk management, investor relations and supply chain functions. He previously held executive positions with Armstrong World Industries Inc. and The Procter & Gamble Co., where he worked for 20 years in increasingly senior finance and accounting positions, according to Starwood.
Schnaid joined Starwood in 1994 and has been Starwood”™s senior vice president, corporate controller and principal accounting officer since 2005.
Arnell joined Starwood in 1998 and has been vice president for finance and accounting services there since 2012, with responsibility for overseeing the company”™s corporate and hotel shared-service finance operations.
