Thomas Pritzker, the executive chairman of Hyatt Hotels Corp., announced his retirement on Monday, marking the end of a more than two-decade tenure in that role. The decision, communicated through a statement from the Pritzker Organization, comes amidst growing scrutiny regarding his past connection to convicted sex offender Jeffrey Epstein.
Pritzker, 75, stated he would not seek reelection to the company’s board during the upcoming annual stockholder meeting. In his statement, he emphasized the importance of “good stewardship” and the need for a proper transition at Hyatt, underlining his commitment to the company’s future despite his departure.
The businessman expressed regret over his relationship with Epstein, as well as with Ghislaine Maxwell, Epstein’s longtime associate. Epstein pleaded guilty in 2008 to state charges related to soliciting prostitution, including a count involving a minor. He was arrested again in 2019 on federal sex trafficking charges and died in his jail cell that same year.
Recent documents have revealed that Pritzker and Epstein shared friendly correspondence following Epstein’s 2008 plea deal. While this has raised questions, it is important to note that being part of the released material does not necessarily indicate wrongdoing. In his statement, Pritzker acknowledged he had exercised “terrible judgment” in maintaining contact with Epstein and Maxwell, admitting there was “no excuse for failing to distance myself sooner.” He condemned the actions of both individuals and expressed profound sorrow for the suffering inflicted on their victims.
Following his exit from Hyatt, Pritzker indicated he plans to dedicate his efforts to a science foundation he established, although further details on this initiative were not provided.
Pritzker’s resignation reflects a broader trend of high-profile departures linked to Epstein, with prominent figures like Kathryn Ruemmler, former legal chief of Goldman Sachs, and Brad Karp, chair of the law firm Paul Weiss, also stepping down amidst similar revelations. Both have publicly expressed remorse regarding their ties to Epstein, stating that ongoing media scrutiny over these connections was becoming a distraction for their respective organizations.
In light of Pritzker’s departure, Hyatt’s board announced that CEO Mark Hoplamazian would step in as chairman, effective immediately. Board member Richard Tuttle praised Pritzker’s contributions, highlighting his instrumental role in shaping the strategic direction of the Chicago-based hospitality company.
