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Hind Al Soulia - Riyadh - WASHINGTON — Billionaire Tom Pritzker announced on Monday he was retiring as executive chairman of Hyatt Hotels after his ties with Jeffrey Epstein surfaced in the latest files released by 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.
Pritzker, who has held the role of executive chairman at the global hotel chain since 2004, also said he won’t stand for re-election with the company’s board.
“Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell which I deeply regret,” Pritzker, an heir to the Hyatt fortune, said in a statement.
Maxwell was convicted in 2021 for her role in luring underage girls for Epstein.
“I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner,” Pritzker said.
Newly released files showed that Pritzker was in regular contact with Epstein in the years after the financier's 2008 plea deal on sex crime charges.
Pritzker is the latest business figure to face scrutiny after the release of files showing the extent of Epstein's network of high-profile elites.
Pritzker said he condemned the actions of the pair.
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In a letter to the Hyatt board, Pritzker points out that he will be 76 this year and that the company is in a "strong and sustainable position" with the strength to thrive. He does not mention his links to Epstein or Maxwell in the letter.
The board named Mark Hoplamazian, Hyatt's president and chief executive, to take over from Pritzker as chairman effective immediately.
Hoplamazian said Pritzker's decision "reflects his stewardship and strong commitment" to Hyatt over decades of service.
The release of the Epstein files has revealed the financier's ties to numerous prominent figures in politics, business and academia, many of whom are facing scrutiny.
There is no suggestion that appearing in the documents suggests any 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 having any knowledge of his criminal conduct.
Brad Karp, the 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 that Karp "never witnessed or participated in any misconduct". — Agencies
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