The hotel magnate Thomas Pritzker announced this Monday (the 16th) his retirement from the role of chief executive of Hyatt Hotels, in an attempt to protect the company after the disclosure of new documents detailing the extent of his association with the sex offender Jeffrey Epstein and his accomplice Ghislaine Maxwell.
“I exercised terrible judgment in keeping 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 the harm caused by Epstein and Maxwell and I feel deep sorrow 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 Department of Justice show meetings and email correspondence between Pritzker and Epstein that lasted for several years, including references to multiple meetings scheduled throughout 2018, as well as communications 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 J.B. Pritzker and former Commerce Secretary Penny Pritzker.
Hyatt Hotels Corporation confirmed Pritzker’s retirement with immediate effect, and stated that he will not seek reelection to the Board at the upcoming annual shareholders’ meeting in May. The Board named Mark S. Hoplamazian, Hyatt’s President and CEO, to succeed Pritzker as Chairman of the Board, also with immediate effect.
Without commenting on the Epstein case, the company highlighted 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 am proud to be part of the Hyatt family since the inception of Hyatt. As I said in my letter to the Board, it was at once an honor and one of the greatest experiences of my life to contribute to the company’s growth,” Pritzker said. “Hyatt is well positioned for the future, and I have great confidence in Mark, in our leadership team, and in the Board as they continue building on our solid foundation.”
