Starwood Hotels & Resorts Worldwide has promoted CFO Thomas Mangas to CEO. The announcement comes just after Marriott International agreed to acquire the company in an unprecedented
$12.2 billion deal, which is expected to close in spring of next year. Starwood has been searching for a CEO while simultaneously
“exploring strategic alternatives” since former CEO Frits van Paasschen
stepped down in February. Since then, Starwood director Adam Aron has acted as interim CEO, but he will leave this month to serve as CEO for movie theater operator AMC Entertainment Holdings. Mangas has been Starwood’s CFO since September 2014. Starwood senior vice president and corporate controller Alan Schnaid will become CFO.