Starwood Hotels Appoints Thomas Mangas As CEO; Succeeding Adam Aron

(RTTNews) - Starwood Hotels & Resorts Worldwide Inc. (HOT) said that Thomas Mangas, currently Executive Vice President and Chief Financial Officer, has been appointed as Chief Executive Officer, effective December 31,2015.

The appointment follows the resignation of Adam Aron, who is leaving Starwood at the end of the month to become Chief Executive Officer and President of AMC Entertainment Holdings, Inc. (AMC).

Aron has also resigned from Starwood's Board of Directors, effective December 30, 2015.

Starwood continues to expect its previously announced acquisition by Marriott International Inc. (MAR) to close by mid-year 2016.

Starwood Hotels also announced that Alan 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. Before joining to Starwood, Mangas served as Executive Vice President and Chief Executive Officer of Armstrong Floor Products, a division of Armstrong World Industries, Inc. (AWI). From 2010 to 2013, he was Senior Vice President and Chief Financial Officer of Armstrong World Industries, Inc.. Previously, Mangas spent 20 years at The Procter & Gamble Company (PG) in increasingly senior finance and accounting positions.

In a separate press release, AMC Entertainment Holdings confirmed that it has named Adam Aron as Chief Executive Officer and President and a member of the AMC Board of Directors, effective January 4, 2016.

Aron replaces Craig Ramsey, who has served as Interim CEO since August 2015, following the resignation of Gerry Lopez. Ramsey will remain AMC's Chief Financial Officer, and will report directly to Aron.