Hyatt's long-time chairman resigns over Epstein ties
What's the story
Tom Pritzker, the billionaire executive chairman of Hyatt Hotels, has announced he is stepping down as executive chairman. The move comes after his ties to convicted sex offender Jeffrey Epstein were revealed in recently released US Justice Department files. Pritzker has been with Hyatt since 2004 and was eligible for re-election on the company's board. However, he will not be seeking another term amid the fallout from his association with Epstein and Ghislaine Maxwell.
Regret expressed
Pritzker expresses regret over association with Epstein, Maxwell
In a statement, Pritzker expressed his deep regret over his association with Epstein and Maxwell. 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." He admitted to exercising bad judgment by staying in touch with them and regretted not cutting ties sooner.
Epstein connections
Pritzker's ties to Epstein revealed in leaked documents
The recently released files have revealed the extent of Epstein's connections with business and cultural elites, including Pritzker. The documents show that he was in regular contact with Epstein even after the latter's controversial 2008 plea deal for soliciting prostitution from a minor. This has made Pritzker the latest powerful figure to face backlash over his ties to Epstein.
Leadership change
Mark Hoplamazian appointed as new chairman of the board
Following Pritzker's resignation, the Hyatt board has appointed Mark Hoplamazian as the new chairman of the board. Hoplamazian is currently serving as president and CEO of Hyatt. His appointment comes into effect immediately after Pritzker's decision to step down amid the Epstein fallout.