Hyatt Chairman Quits Amid Epstein Links
Hyatt chairman Thomas Pritzker steps down after Epstein files reveal past ties, calling it poor judgment amid mounting corporate scrutiny.
Billionaire Thomas Pritzker says he has retired as chairman of Hyatt Hotels after newly released US Department of Justice files revealed his relationship with Jeffrey Epstein.
He said in a statement on Monday that he had exercised "very poor judgment" in maintaining contact with the convicted sex offender.
Recently released files revealed that Pritzker was in regular contact with Epstein in the years following the financier's 2008 plea deal on sex crime charges.
Pritzker is the latest businessman to face scrutiny following the release of files revealing the extent of Epstein's high-profile network of elite individuals.
Pritzker, who had been executive chairman of the global hotel chain since 2004, said he decided to step down after discussions with fellow board members and would not seek re-election. Pritzker, the billionaire heir to the hotel chain's fortune, said, "My job and responsibility is to provide good oversight... Good oversight includes ensuring the proper transformation of Hyatt."
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He added: "Good oversight also means protecting Hyatt, especially regarding my association with Jeffrey Epstein and Ghislaine Maxwell, which I deeply regret."
Maxwell was convicted in 2021 for her role in luring underage girls for Epstein.
She was convicted in 2008 of soliciting the prostitution of a child and died in custody in 2019 while facing sex trafficking charges.
Pritzker said he condemned the actions of both, adding: "There is no excuse for not distancing ourselves sooner."
His statement was accompanied by a letter to the board, in which Pritzker explained that he will turn 76 this year and that the company is in a "strong and sustainable position" and has the power to move forward. He did not mention his links to Epstein or Maxwell in his letter to the board.
The board appointed Hyatt President and Chief Executive Mark Hoplamazian as chairman in Pritzker's place. Hoplamazian said Pritzker's decision "reflects his care and strong commitment to Hyatt during his decades of service."
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The release of the Epstein files has revealed the financier's connections to numerous prominent figures in politics, business, and academia, many of whom are under investigation.
There is no indication that the documents reveal any wrongdoing.
Earlier this month, Goldman Sachs' top lawyer, Kathy Rummler, announced she would be leaving the company after emails in the latest tranche of Epstein documents revealed her close relationship with the financier.
Rummler has denied any knowledge of his criminal activities.
Brad Karp, chairman of US law firm Paul Weiss, also resigned in February after emails revealed she had spoken with him about Epstein's 2008 sentencing. Paul Weiss had previously stated that Karp "never witnessed or participated in any wrongdoing."
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