Thomas Pritzker, executive chairman of Hyatt Hotels Corporation, speaks at the Milken Institute Global Conference on Wednesday, May 2, 2018 in Beverly Hills, California. The conference brings together leaders from business, government, technology, philanthropy, academia and media to discuss practical and collaborative solutions to some of the most important problems of our time. Photographer: Dania Maxwell/Bloomberg via Getty Images
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hyatt hotel Chairman Thomas Pritzker announced Monday that he would step down and renounce his relationship with sex offender Jeffrey Epstein.
Pritzker will immediately step down as executive chairman of the hotel chain, a position he has held for more than 20 years, the Pritzker Organization said in a statement. The 75-year-old billionaire said he would not seek re-election to the board at the annual general meeting.
“My job and responsibility is to provide good governance. That is important to me,” Pritzker said in a statement. “Proper management includes ensuring a successful transition at Hyatt.”
Pritzker said he “regrets” his relationship with Epstein and his co-defendant Ghislaine Maxwell.
Epstein pleaded guilty in Florida in 2008 to state criminal charges related to solicitation of prostitution, including charges involving minors. He committed suicide in 2019 after being arrested on federal child sex trafficking charges.
Recently released files show that Mr. Pritzker and Mr. Epstein exchanged friendly emails after the disgraced investor’s 2008 plea deal. Participating in the publication of thousands of documents and photos does not imply any wrongdoing.
“I made poor decisions in maintaining contact with them, and there is no excuse for not distancing myself sooner,” Pritzker said in a statement. “I condemn the actions and harm committed by Epstein and Maxwell, and am deeply saddened by the pain they have caused their victims.”
After retiring, Pritzker said he would focus on the science foundation he started.
Pritzker’s announcement is the latest in a series of high-profile resignations as more details about Epstein’s dealings emerge. Former Goldman Sachs general counsel Kathryn Remler and Paul Weiss chairman Brad Karp are among business leaders who have recently stepped down from their positions. Mr. Ruemmler and Mr. Karp both said they regret their association with Mr. Epstein and that reports about their relationship were distracting from the companies they represent.
Hyatt announced that its board of directors has appointed CEO Mark Hoplamazian to replace Pritzker, effective immediately as chairman. Board member Richard Tuttle thanked Pritzker for his work in a press release, saying he was “contributing” to the Chicago-based company’s strategic decisions.
