Hyatt Hotels executive chairman Thomas Pritzker has retired from the board of directors after his association with sex trafficker Jeffrey Epstein was brought to light.
The Chicago-based company, which owns and operates hotels across six continents including a growing UK operation, confirmed that Pritzker had stepped down immediately and would not seek re-election to the board at Hyatt’s annual meeting in May.
Mark Hoplamazian, Hyatt’s president and chief executive, has succeeded Pritzker.
Following the publication of the Epstein files, Pritzker, who has served as a member of Hyatt’s board and as executive chairman since 2004, was revealed to be in contact with both Epstein and Ghislaine Maxwell.
In a statement published in a Businesswire press release, Pritzker said he “exercised terrible judgment” in maintaining contact with both Epstein and Maxwell.
“My job and responsibility is to provide good stewardship,” he said. “Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell, which I deeply regret.
“There is no excuse for failing to distance myself sooner. 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.”
Richard Tuttle, chair of the board’s nominating and corporate governance committee, said Pritzker was “instrumental in shaping Hyatt’s strategy and long-term growth”. He added “we thank him for his service and dedication to Hyatt”.
Tuttle said the board had “engaged in thoughtful succession planning, and we are confident Mark’s deep knowledge of Hyatt’s business, strong relationships with owners and colleagues, and proven track record as [chief executive] for nearly two decades positions him well to serve as chairman and continue driving Hyatt’s long-term success.”
Last year, Hyatt unveiled plans to grow its UK portfolio by more than 30%, setting a goal of adding another 1,000 rooms before the end of 2025.
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