Originally Posted by playthegame

Starwood CEO's Ouster Followed
Battle with Board Over His Conduct
By PETER SANDERS and JOANN S. LUBLIN
April 7, 2007; Page A1

The abrupt departure of Steven J. Heyer from Starwood Hotels & Resorts Worldwide Inc. followed a confrontation with the company's board ignited by an anonymous letter accusing him of personal misconduct, according to people familiar with the situation.

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Since Mr. Heyer's departure, Starwood shares have hit new highs on speculation the company is now a prime buyout target. The stock hit an all-time high of $71.79 a share on Wednesday in intraday trading on the New York Stock Exchange, before closing at $70.08 on Thursday ahead of the holiday weekend.

Write to Peter Sanders at [email protected] and Joann S. Lublin at [email protected]