Starwood Hotels & Resorts Worldwide, Inc. announced appointment of its new CEO as Adam Aron resigns at the end of the month to become Chief Executive Officer and President of AMC Entertainment Holdings, Inc.
Thomas B. Mangas, currently Executive Vice President and Chief Financial Officer has been named Chief Executive Officer of Starwood Hotels & Resorts Worldwide effective December 31, 2015.
Starwood continues to expect its previously announced acquisition by Marriott International Inc. to close by mid-year 2016.
The Company also announced that Alan M. Schnaid, currently Senior Vice President, Corporate Controller and Principal Accounting Officer of Starwood, will be appointed Chief Financial Officer, and Robyn Arnell, currently Vice President, Finance and Accounting Services, will assume the role of Corporate Controller.
Mangas has been Executive Vice President and Chief Financial Officer since September 2014, responsible for the global accounting, tax, treasury, strategic planning, corporate development, risk management, investor relations and supply chain functions. Prior to joining Starwood, Mr. Mangas served as Executive Vice President and Chief Executive Officer of Armstrong Floor Products, a division of Armstrong World Industries, Inc. (NYSE: AWI). From 2010 to 2013, he was Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc., where he was responsible for finance, investor relations, information technology and global business services. Previously, Mr. Mangas spent 20 years at The Procter & Gamble Company (NYSE: PG) in increasingly senior finance and accounting positions.