Starwood Taps Coors Leader To Fill Vacant CEO Post

Coors Brewing Co. president and CEO Frits van Paasschen will assume leadership of Starwood Hotels & Resorts Worldwide this month, following a five-month search for a new CEO, the hotel company said.

Starwood chose van Paasschen out of a field of 60 candidates, said Stephen Quazzo, chairman of Starwood's governance and nominating committee. In addition to serving since 2005 as the CEO of Coors Brewing, a division of Molson Coors Brewing Co., van Paasschen led Nike's Europe, Middle East and Africa operations for four years and held executive positions at Disney Consumer Products, McKinsey & Co. and the Boston Consulting Group.

"As soon as we met Frits, we new we had found the right person to lead Starwood," Quazzo said last week. "He was our first choice, and the job was not offered to anyone else."

Starwood has been without a full-time CEO since terminating the employment of former CEO Steven Heyer in April. Heyer, the former president of Coca-Cola Co., left with more than a year remaining in his contract. Starwood leaders attributed his departure to a difficult management style and his decision to live away from Starwood's White Plains, N.Y., headquarters, although published reports also cited allegations of inappropriate behavior. Starwood board chairman Bruce Duncan served as interim CEO during the search process.

Van Paasschen, who will relocate to White Plains this month, begins his new role Sept. 24. Quazzo said he brings a track record of successes in brand improvement, including turning around nine straight quarters of decline by Coors Light and doubling Nike EMEA profits while making Nike a market leader in Europe, which is relevant considering Starwood's global expansion goals.