Commenting on the promotion, Sternlicht says, "Bob has been a valuable asset to Starwood and a wonderful partner to me. A 30-year hotel veteran, he is one of the most well respected hotel operators in the world. His ability to help execute the company's strategy throughout our global network of hotels has been fundamental to our success. Bob has been uniquely able to adapt and integrate our hotel operations to the challenges of rapid, industry shaping changes in technology and distribution."
Prior to being named COO of Starwood three years ago, Cotter served as president, International Operations from December 1999. He also held the position of president and COO, Europe for approximately five years. Prior to that role, he served as senior vice president and president of the company's Asia-Pacific Division, based in Hong Kong.
Cotter joined Sheraton in 1973 where he held numerous sales and marketing positions.
Cotter now must await the decision by the Board of Directors as to who will succeed Sternlicht as CEO. Sternlicht announced on Oct. 30 his intent to step down as chief executive officer once a replacement is found. Sternlicht, who has served as CEO of Starwood since the spring of 1995, will become executive chairman of the company once a new CEO is selected.
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