Billionaire Thomas Pritzker announced his retirement as chairman of the Hyatt Hotels board after new documents released by the U.S. Department of Justice revealed close ties to Jeffrey Epstein, the notorious sex offender. He admitted he had made a "grave error in judgment" by not cutting ties sooner.
Thomas Pritzker, the billionaire heir to a global hotel empire, announced his resignation as chairman of Hyatt Hotels on Monday (16 Feb) after his name appeared in newly released U.S. Department of Justice documents detailing his connection to Jeffrey Epstein, who was charged with sexually abusing minors.
In a statement, Pritzker said he had exercised "seriously flawed judgment" in maintaining his relationship with Epstein. The newly revealed documents show he had regular contact with Epstein for years after Epstein pleaded guilty to sex crimes in 2008.
Pritzker, who had served as chairman since 2004, said he decided to step down after discussions with the company’s board and that he would not return to the position.
Pritzker stated, "My duty and responsibility is to be a good steward, which includes ensuring proper leadership succession and protecting the Hyatt brand, especially given my association with Jeffrey Epstein and Ghislaine Maxwell, for which I am deeply sorry." He also affirmed there was no excuse for failing to sever ties with both individuals sooner.
Ghislaine Maxwell was sentenced to prison in 2021 for recruiting underage girls for Epstein, who himself died in custody in 2019 while awaiting trial on sex trafficking charges.
The Hyatt board appointed Mark Hoplamazian, the current president and CEO, as the new chairman to replace Pritzker. Hoplamazian said Pritzker’s decision reflected his longstanding commitment to the company.
However, in a formal letter to the board, Pritzker only cited that he will turn 76 this year and that the company is strong and sustainable enough to continue growing, without mentioning Epstein or Maxwell by name.
The recent document disclosures have increased pressure on many prominent individuals in politics, business, and academia, though inclusion in the documents does not necessarily imply legal wrongdoing.
In the past month, several senior executives have resigned, including Cathy Rummeler, chief legal officer at Goldman Sachs, who stepped down after emails showed close ties to Epstein; she denied any knowledge of his crimes. Brad Karp, chairman of law firm Paul Weiss, also resigned in February after emails surfaced about discussions concerning Epstein’s 2008 case.
Thomas Pritzker’s resignation is among the most significant business upheavals, given his billionaire status and leadership role in one of the world’s largest hotel chains.
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