Starwood announces resignation of Vice Chairman and CFO Vasant Prabhu

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Written by Linda Hohnholz

STAMFORD, CT – Starwood Hotels & Resorts Worldwide, Inc today announced that Vasant M.

STAMFORD, CT – Starwood Hotels & Resorts Worldwide, Inc today announced that Vasant M. Prabhu has resigned as Vice Chairman and Chief Financial Officer to join NBCUniversal as Chief Financial Officer. Twenty-year Starwood veteran and finance leader Alan Schnaid , currently Senior Vice President, Finance and Chief Accounting Officer, will serve as interim Chief Financial Officer effective immediately. To ensure a smooth transition, Prabhu will continue with Starwood through May 30, 2014. Starwood has commenced a comprehensive search for a permanent replacement, assisted by executive search firm Korn Ferry, that will consider both internal and external candidates.

“On behalf of Starwoodโ€™s Board of Directors and our management team, I want to thank Vasant for his outstanding strategic and financial leadership over the past decade,โ€ said Frits van Paasschen, President and Chief Executive Officer. โ€œSince joining Starwood, Vasant has played an integral role in the companyโ€™s growth, as weโ€™ve grown our brands across the globe and evolved our business toward a fee-driven model. Vasant has been a true partner to me, especially as we navigated through the economic downturn and emerged an even stronger competitor in todayโ€™s global hospitality industry. We will miss his talent and wise counsel, but we understand his decision and wish him well.”

Prabhu said, “Itโ€™s been a privilege to have worked with such an outstanding team during my tenure at Starwood. While it was a difficult decision to leave such an innovative and global organization, I know that the company is well positioned to continue to grow its brands and take full advantage of the revolution in high-end travel that is underway. I wish Frits and the team continued success and my sincerest thanks.”

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Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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