WASHINGTON (dpa-AFX) - Billionaire Thomas Pritzker has retired as chairman of Hyatt Hotels Corporation (H) following renewed scrutiny over his past association with convicted sex offender Jeffrey Epstein.
The development comes after newly released files from the U.S. Department of Justice revealed that Pritzker remained in regular contact with Epstein in the years after Epstein's 2008 plea deal on sex crime charges.
In a statement issued on Monday, Pritzker acknowledged he had exercised 'terrible judgment' by maintaining the relationship and said he regretted not distancing himself sooner. He added that after discussions with fellow board members, he decided not to stand for re-election and would step down to ensure proper stewardship and a smooth leadership transition at the global hotel chain.
Pritzker has served as executive chairman of Hyatt Hotels since 2004 and is a member of the family that owns the company.
Pritzker also referenced his association with Ghislaine Maxwell, who was convicted in 2021 for her role in recruiting underage girls for Epstein.
Epstein, who pleaded guilty in 2008 to soliciting prostitution from a minor, died in custody in 2019 while awaiting trial on federal sex trafficking charges.
In a separate letter to Hyatt's board, Pritzker noted his age and the company's strong position but did not directly mention Epstein or Maxwell.
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