Hotel magnate Thomas Pritzker announced his retirement from his role as executive chairman of Hyatt Hotels on Monday, in an attempt to protect the company following the release of new documents detailing the extent of his association with sex offender Jeffrey Epstein and his accomplice Ghislaine Maxwell.
“I exercised terrible judgment in staying in contact with them, and there is no excuse for not distancing myself sooner,” Pritzker said in a statement released today. “I condemn the actions and harm caused by Epstein and Maxwell and feel deep sadness for the pain they inflicted on their victims.”
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According to the Wall Street Journal, Pritzker was a frequent visitor to Epstein’s townhouse. Documents recently released by the Justice Department show meetings and email correspondence between Pritzker and Epstein that spanned several years, including references to multiple meetings scheduled throughout 2018, as well as communication between Pritzker and Maxwell.
The case has political ramifications, as Pritzker is part of one of Chicago’s most prominent families, whose members include Illinois Governor JB Pritzker and former Secretary of Commerce Penny Pritzker.
Hyatt Hotels Corporation confirmed Pritzker’s retirement effective immediately and said he will not seek re-election to the Board of Directors at the next annual shareholder meeting in May. The Board appointed Mark S. Hoplamazian, president and CEO of Hyatt, to succeed Pritzker as Chairman of the Board, also effective immediately.
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Without commenting on the Epstein case, the company noted that Pritzker provided strategic leadership as Hyatt expanded its global brand presence, strengthened its asset-light business model and generated long-term value for shareholders.
“I have been proud to have been part of the Hyatt family since Hyatt’s inception. As I said in my letter to the Board, it has been both an honor and one of the great experiences of my life to be able to contribute to the company’s growth,” said Pritzker. “Hyatt is well positioned for the future, and I have great confidence in Mark, our leadership team and the Board as they continue to build on our strong foundation.”
