Hyatt Chairman Pritzker leaves board over Epstein ties
Thomas Pritzker, executive chairman of Hyatt Hotels Corp., speaks at the Milken Institute Global Conference on Wednesday, May 2, 2018 in Beverly Hills, California, USA. The conference brings together leaders in business, government, technology, philanthropy, academia, and 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 President Thomas Pritzker said Monday he will retire and renounce his relationship with sex predator Jeffrey Epstein.
In a statement released by the Pritzker Organization, it was stated that Pritzker will immediately step down from his position as chairman of the hotel chain, which he has held for more than two decades. The 75-year-old billionaire said at the annual shareholders meeting that he will not seek re-election to the board.
“My job and my responsibility is to provide good governance. This is important to me,” Pritzker said in a statement. he said. “Good governance includes ensuring an appropriate transition at Hyatt.”
Pritzker said he “regrets” his association with Epstein and his accomplice Ghislaine Maxwell.
Epstein agreed to plead guilty in Florida in 2008 to charges of solicitation of prostitution, including one charge involving a minor. He killed himself in 2019 after being arrested on federal child sex trafficking charges.
Lately released files Show Pritzker and Epstein exchanging friendly emails following the disgraced financier’s 2008 plea deal. Taking part in the publication of thousands of documents and photographs does not imply any wrongdoing.
“I made a terrible decision in maintaining contact with them, and there is no excuse for not maintaining distance sooner,” Pritzker said in his statement. he said. “I condemn the actions of Epstein and Maxwell and the harm they caused, and I deeply regret the pain they inflicted on their victims.”
After retirement, Pritzker said he will focus his attention on the science foundation he started.
Pritzker’s announcement was the latest in a series of high-profile resignations as more details about Epstein’s dealings became public. Former Goldman Sachs Legal Chief Kathryn Ruemmler and Paul Weiss Chairman Brad Karp were among the latest business leaders to leave their positions. Both Ruemmler and Karp said they regretted their ties to Epstein and that reporting on their ties distracted the companies they represented.
Hyatt said its board appointed CEO Mark Hoplamazian to the role To succeed Pritzker’s inauguration begins immediately. In a press release, board member Richard Tuttle thanked Pritzker for his work and called him “instrumental” in setting the Chicago-based company’s strategy.
