Longtime Nike Executive also Appointed to Company's Audit and Capital Committees
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--May 6, 2008--Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), one of the world's largest hotel and leisure companies, announced today the appointment of Thomas E. Clarke, Ph.D to the Company's Board of Directors. Dr. Clarke, 56, who is President of New Business Ventures for Nike, Inc., was also appointed to the Company's audit committee and capital committee.
"Tom Clarke brings to Starwood's board the experience he's earned as a longtime leader at Nike, where he was President and Chief Operating Officer for six years," said Frits van Paasschen, Starwood's President and Chief Executive Officer. "With a Ph.D in biomechanics and many years spent leading Nike's marketing, Tom's background in global branding and business leadership will be a terrific asset. I've known Tom for more than 12 years as a mentor (and running partner!) and will benefit from his advice."
Dr. Clarke has spent his entire professional career with Nike, joining the company in 1980, and has held a number of key positions including Director of Research and Development, Vice President of Marketing and General Manager of the Nike Brand. During his tenure as President and Chief Operating Officer from 1994-2000, Nike more than doubled its size to over $9 billion.
Currently serving on the Board of Directors of Newell Rubbermaid, Dr. Clarke also served on Nike's Board from 1994 to 2004.
Dr. Clarke earned a Bachelor of Science in Mathematics from the State University of New York at Albany, a Masters of Science in Biomechanics from the University of Florida and a Ph.D in Biomechanics from Pennsylvania State University.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Meridien(R), Sheraton(R), Four Points(R) by Sheraton, Aloft(SM) and Element(SM). Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.
Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Further results, performance and achievements may be affected by general economic conditions including the impact of war and terrorist activity, business and financing conditions, foreign exchange fluctuations, cyclicality of the real estate (including residential) and the hotel and vacation ownership businesses, operating risks associated with the hotel, vacation ownership and residential businesses, relationships with associates and labor unions, customers and property owners, the impact of the internet reservation channels, our reliance on technology, domestic and international political and geopolitical conditions, competition, governmental and regulatory actions (including the impact of changes in U.S. and foreign tax laws and their interpretation), travelers' fears of exposure to contagious diseases, risk associated with the level of our indebtedness, risk associated with potential acquisitions and dispositions, and the introduction of new brand concepts and other risks and uncertainties. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: Starwood Hotels & Resorts Worldwide, Inc.