Starwood Founder/Chair Resigns

Starwood Hotels & Resorts Worldwide Inc., White Plains, N.Y., has announced that its founder, Barry S. Sternlicht, will resign his post as executive chairman of the company to devote more time to his real estate investment and private equity firm, Starwood Capital.Mr. Sternlicht, who retired as chief executive officer last year after leading a search to identify his successor, will also resign from the Starwood Hotels board and assume the title of founder and chairman emeritus. "Eighteen months ago, I made the decision to reduce my involvement in the company to spend more time with my family and focus on my other business interests," Mr. Sternlicht said. Starwood also announced that Lizanne Galbreath has been elected a director to fill the vacancy created by Mr. Sternlicht's resignation from the board, and that Bruce W. Duncan has been elected chairman of the board. The company can be found online at http://www.starwoodhotels.com.