Starwood Says CEO Pushed Out Due to Too Slow Growth
Photo Caption: Starwood Hotels CEO Frits van Paasschen rides his bicycle in New York's Central Park, Tuesday, Oct. 8, 2013. Richard Drew
Skift Take
Starwood is a leader in the lifestyle sector, but its international footprint and select-service room volume falls short of its competitors' at a time when the entire industry is looking forward to greater growth and profits.
News of Starwood Hotels & Resorts CEO Frits van Paasschen’s resignation surprised the travel industry Tuesday morning.
Van Paasschen was considered a leader in the hospitality industry and had led the lifestyle hotel group for eight years before a "mutual agreement" with the board of directors led to him stepping down.
The hotel group also announced that Starwood board member Adam Aron would take over as interim CEO until a permanent replacement is found. Aron has been on Starwood’s board since 2006 and has previously held CEO roles at Vail Resorts and Norwegian Cruise
