Hotel owner and operator Starwood Hotels & Resorts Worldwide has hired the former president of Coca-Cola to be its new CEO. Steven Heyer will take over the position on Oct. 1, according to Starwood. Heyer left Coca-Cola in May after being passed over for the chief executive slot.

"Steven Heyer embodies all that we were searching for in a new CEO. He is a seasoned operator with vast corporate experience on a global scale across multiple consumer businesses," says Barry Sternlicht, former Starwood CEO. Sternlicht stepped down as CEO last year, but has for the past year acted as chairman and CEO of the White Plains, N.Y.-based firm that he founded.