Hyatt Hotels Chairman Thomas Pritzker announced on Monday his retirement and severed ties with sex offender Jeffrey Epstein.
Pritzker will step down from his role as executive chairman of the hotel group — a position he has occupied for over twenty years — effective immediately, as stated in a release from the Pritzker Organization. The 75-year-old billionaire Hyatt heir declared he will not run for reelection at the upcoming annual shareholders meeting.
“My duty and obligation is to ensure responsible oversight. This is crucial to me,” Pritzker expressed in the statement. “Responsible oversight means facilitating a smooth transition at Hyatt.”
Pritzker acknowledged he has “regret” about his association with Epstein and his associate Ghislaine Maxwell.
Epstein pleaded guilty to state criminal charges concerning solicitation of prostitution, including one charge involving a minor, in Florida in 2008. He took his own life in 2019 after being apprehended on federal child sex trafficking charges.
Recently released documents reveal that Pritzker and Epstein communicated amicably via email following the disgraced financier’s 2008 plea agreement. Being included in the release of numerous documents and images does not suggest any misconduct.
“I demonstrated poor judgment in keeping in contact with them, and I have no justification for not distancing myself sooner,” Pritzker stated in the release. “I denounce the actions and the harm perpetrated by Epstein and Maxwell and I feel profound sorrow for the suffering they caused their victims.”
Upon his retirement, Pritzker indicated he would redirect his focus toward a scientific foundation he established.
Pritzker’s announcement is the latest in a trend of notable resignations as additional information about Epstein’s dealings is revealed. Former Goldman Sachs Legal Chief Kathryn Ruemmler and Paul Weiss Chair Brad Karp are among those recent business figures to resign. Both Ruemmler and Karp have expressed regret over their ties to Epstein and noted that discussions of their associations were proving to be distractions for the firms they represented.
Hyatt announced that its board has named CEO Mark Hoplamazian to succeed Pritzker as chairman effective immediately. Board member Richard Tuttle expressed gratitude to Pritzker for his contributions and described him as “pivotal” in shaping the strategy of the Chicago-based organization in a press release.
