Starwood shakes up management team
-
- September
- 2
White Plains-based Starwood Hotels & Resorts Worldwide Inc., which has been hit hard by the weakness in the U.S. economy, today announced a shake-up of its senior management team.
The company said one executive, Matt Ouimet, is leaving the company. Matthew E. Avril, the co-president of Starwood Vacation Ownership, will succeed Ouimet in the role of president of the company’s hotel group.
Avril, 47, will move to Starwood’s White Plains headquarters and oversee hotel operations worldwide. Avril, who has been with the company for 16 years, will also oversee the global sales organization.
Sergio Rivera, who has been co-head of Starwood Vacation Ownership, will now have sole responsibility for the business. Rivera, 46, the president and managing director of real estate development and co-president of vacation ownership, will become the chief executive of vacation ownership.
Rivera has more than 20 years of experience in the industry and more than 17 years with Starwood and its corporate predecessor.
Starwood, whose brands include Sheraton, Westin and St. Regis, earned $105 million, or 56 cents a share, in the second quarter, a drop from $145 million, or 67 cents a share, a year earlier. Revenues were little changed.
Starwood said in a statement the moves are intended to put the company in a position for long-term growth.
This entry was posted
on Tuesday, September 2nd, 2008 at 12:30 pm by Allan Drury.
You can follow any responses to this entry through the RSS 2.0 feed.
Print
| 
Email
