Billionaire Thomas Pritzker has retired as chairman of Hyatt Hotels Corporation after his ties with Jeffrey Epstein surfaced in newly released files from the US Department of Justice.
He said in a statement on Monday that he had exercised “terrible judgement” in maintaining contact with the convicted sex offender.
Contact after 2008 conviction
Recently released documents showed that Pritzker was in regular contact with Jeffrey Epstein in the years following the financier’s 2008 plea deal on sex crime charges.
Pritzker is the latest business figure to face scrutiny after the release of files detailing the extent of Epstein’s network of high-profile elites.
Pritzker, who had served as executive chairman of the global hotel chain since 2004, said he decided to step down after discussions with fellow board members, and would not stand for re-election.
“My job and responsibility is to provide good stewardship… Good stewardship includes ensuring a proper transition at Hyatt,” said Pritzker, the billionaire heir to the hotel chain’s fortune.
He added: “Good stewardship also means protecting Hyatt, particularly in the context of 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.
Epstein was convicted in 2008 for soliciting prostitution from a child and died in custody in 2019 while facing sex trafficking charges.
Pritzker said he condemned the actions of the pair, adding: “There is no excuse for failing to distance myself sooner.”
Leadership transition at Hyatt
His statement was accompanied by a letter to the board in which Pritzker noted that he will turn 76 this year and said the company is in a “strong and sustainable position” capable of continued growth. He did not mention his links to Epstein or Maxwell in the letter.
The board named Mark Hoplamazian, Hyatt’s president and chief executive, to succeed Pritzker as chairman.
Hoplamazian said Pritzker’s decision “reflects his stewardship and strong commitment” to Hyatt over decades of service.
Wider scrutiny
The release of the Epstein files has revealed ties between the financier and numerous prominent figures in politics, business, and academia, many of whom are facing scrutiny.
There is no suggestion that appearing in the documents implies wrongdoing.
Earlier this month, Goldman Sachs’ top lawyer, Kathy Ruemmler, announced she would leave the company, after emails in the latest tranche of Epstein documents showed she had a close relationship with the financier. Ruemmler has denied knowledge of his criminal conduct.
Brad Karp, chairman of US law firm Paul Weiss, also stepped down in February, after emails reportedly showed he discussed Epstein’s 2008 conviction with him. Paul Weiss has previously said Karp “never witnessed or participated in any misconduct”.
Source: BBC
Also read: Trump administration accused of “muddying waters” in Epstein files
For more videos and updates, check out our YouTube channel
