The Firing of Starwood’s Frits van Paasschen – 25 Moments in 2015

Starwood Hotels & Resorts Worldwide Inc.’s CEO Frits van Paasschen was a CEO’s CEO. He had the cool brands, the digital toys, a strong team, and he looked cool on a bike. While they may not have wanted his growth numbers — in his last year Starwood’s were two points below target — they wanted his mojo.

But modern hospitality companies trade in quarterly earnings rather than mojo or long-term brand building these days. Acting CEO Adam Aron said shortly after van Paasschen’s removal that “It’s something that’s been building over the past few months.” You could sense a bit of palace intrigue taking place, too, with Aron’s title changing over the months as “acting” disappeared then reappeared before his CEO title. Not content to be a placeholder, Aron moved quickly to implement a strategic review to identify acquisitions or a strategy for being acquired.

As we saw in November, the second half of that strategy worked, and the Starwood we’ve known in recent years will be radically transformed.

The Full Story

• Starwood Still in Play as Strategic Review and CEO Search Drag On
• Starwood President and CEO Frits van Paasschen Resigns
• Starwood Says CEO Pushed Out Due to Too Slow Growth