Morris, Manning & Martin partner Jeffrey L. Schulte advised executive Steven J. Heyer on his departure from the hotel company he led. The 54-year-old Heyer stepped down as CEO of Starwood Hotels & Resorts Worldwide on March 31 and gave up his seat on its board of directors. According to the release agreement filed with the SEC, Heyer will receive $250,000, which is about a quarter of his yearly salary, plus a $2 million bonus, but he forfeited his Starwood stock options and unvested restricted stock units.
April 27, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Morris, Manning & Martin partner Jeffrey L. Schulte advised former Coca-Cola Co. and Turner Broadcasting executive Steven J. Heyer on his departure from the hotel company he led.
The 54-year-old Heyer stepped down as chief executive of Starwood Hotels & Resorts Worldwide Inc. on March 31 and gave up his seat on its board of directors. Heyer also agreed not to receive a severance payment.
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