Starwood President and CEO van Paasschen resigns; Aron named as interim CEO

Industries Associated Press

Starwood Hotels & Resorts Worldwide Inc. says President and CEO Frits van Paasschen has resigned.

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The operator of Westin, Sheraton and other other hotel brands says board member Adam Aron will serve as interim CEO until a permanent replacement is found.

Aron has been on Starwood's board since 2006. He is the former CEO of both Vail Resorts and Norwegian Cruise Line. He also served as CEO of the Philadelphia 76ers from 2011 through 2013. Aron has been CEO of leisure-related consultancy World Leisure Partners Inc. since 2006.

Van Paasschen will remain with Starwood as a consultant to help with the transition.

Starwood is based in Stamford, Connecticut. The company announced last week that it plans to spin off its timeshare business as a separate company.