Thomas Pritzker, executive chairman of Hyatt Hotels Corp., speaks during the Milken Institute Global Conference in Beverly Hills, California, U.S., on Wednesday, May 2, 2018. The conference brings together leaders in business, government, technology, philanthropy, academia, and the media to discuss actionable and collaborative solutions to some of the most important questions of our time. Photographer: Dania Maxwell/Bloomberg via Getty Images
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Hyatt Hotels Chairman Thomas Pritzker said Monday that he would retire and renounced his relationship with sex predator Jeffrey Epstein.
Pritzker will leave his post as the hotel chain’s executive chairman — a role he’s held for more than two decades — immediately, he said in a statement released by the Pritzker Organization. The 75-year-old billionaire Hyatt heir said he would not seek reelection to the board at the annual stockholder meeting.
“My job and responsibility is to provide good stewardship. That is important to me,” Pritzker said in the statement. “Good stewardship includes ensuring a proper transition at Hyatt.”
Pritzker said he has “regret” over his connection to Epstein and his accomplice Ghislaine Maxwell.
Epstein plead guilty to state criminal charges related to soliciting prostitution, including one charge involving a minor, in Florida in 2008. He killed himself in 2019 after being arrested for federal child sex trafficking charges.
Recently released files show Pritzker and Epstein exchanged friendly emails after the disgraced financier’s 2008 plea deal. Being part of the release of thousands of documents and photos does not imply any wrongdoing.
“I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner,” Pritzker said in the statement. “I condemn the actions and the harm caused by Epstein and Maxwell and I feel deep sorrow for the pain they inflicted on their victims.”
Following his retirement, Pritzker said he would focus attention on a science foundation he began.
Pritzker’s announcement marks the latest in a series of high-profile resignations as more details about Epstein’s dealings become public. Former Goldman Sachs Legal Chief Kathryn Ruemmler and Paul Weiss Chair Brad Karp were both among the latest business leaders to step down from their positions. Both Ruemmler and Karp and have said they regret their connections to Epstein and that coverage of their ties were creating distractions for the companies they represented.
Hyatt said its board appointed CEO Mark Hoplamazian to succeed Pritzker as chair starting immediately. Board member Richard Tuttle thanked Pritzker for his work and called him “instrumental” in determining the Chicago-based company’s strategy in a press release.
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