Sternlicht to quit top post at Starwood

Barry Sternlicht, the man who has overseen the rise of Starwood Hotels & Resorts, is to step down as the chain's chief executive officer and chairman to take up the post of executive chairman.

Sternlicht, who will assume his new position once a successor has been found, said he was keen to reduce his day-to-day role at the company. As executive chairman he will focus on long-term strategy, undertake "ambassadorial" duties and continue to oversee the expansion of the company's trendy W brand.

During his eight years as head of the company, Sternlicht has overseen the acquisition of assets like Westin Hotels and ITT Sheraton, created the W brand and helped transform Starwood into a major player, with more than 740 properties worldwide.

Meanwhile, InterContinental Hotels Group and Queens Moat Houses (QMH) have also announced changes at the top. InterContinental has confirmed that its outgoing group chairman Sir Ian Prosser will be replaced by current non-executive deputy chairman David Webster.

Webster, who as chairman of supermarket chain Safeway, is overseeing the takeover of the company by rival chain Wm Morrison, is due to take up his new post in January.

Beleaguered QMH has announced that chairman Richard Jewson and non-executive director Michael Beckett have both resigned. Former Railtrack Group chief executive officer Steve Marshall has been appointed as the new chairman and Andrew Glasgow and Kailayapillai Ranjan, finance director at Petchey (Holdings), join the firm as non-executive directors.

The moves, part of a strategic review announced in September, are effective immediately.