Thomas Pritzker said on Monday he stepped down as executive chairman of Hyatt Hotels (H.N), acknowledging "terrible judgment" in maintaining contact with convicted sex offender Jeffrey Epstein and Ghislaine Maxwell.
Pritzker, 75, would not seek re-election to the company's board in 2026, he said in a letter to 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. I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner," Pritzker said in a statement.
Pritzker has served as executive chairman since 2004 and highlighted the company's growth and resilience during his tenure, including taking Hyatt public, adopting an "asset-light" strategy and navigating the COVID-19 pandemic.
The U.S. Justice Department's release of millions of internal documents related to Epstein has revealed the late financier and sex offender's ties to many prominent people in politics, finance, academia and business - both before and after he pleaded guilty in 2008 to prostitution charges, including soliciting an underage girl.
Evidence in multiple legal and criminal cases has also shed light on these connections. Epstein was arrested again in 2019 on federal charges of sex trafficking of minors. His 2019 death in a Manhattan jail cell was ruled a suicide.
