Chairman of Hyatt Hotels resigns from board due to ties with Epstein
Hyatt Hotels Chairman Thomas Pritzker announced his retirement on Monday and apologized for his association with Epstein.
The Pritzker family group issued a statement saying that the 75-year-old billionaire will immediately step down as executive chairman of the hotel chain, a position he has held for more than twenty years. He stated that he will not seek re-election to the board at the annual shareholders' meeting.
“My responsibility is to ensure good governance, which is of utmost importance to me,” Pritzker said in the statement. “Proper governance includes ensuring a smooth transition at Hyatt.”
Pritzker expressed “regret” over his association with Epstein and his accomplice Ghislaine Maxwell.
In 2008, Epstein pleaded guilty in Florida to state criminal charges related to soliciting prostitution, one of which involved a minor. He died by suicide in prison in 2019 after being arrested on federal child sex trafficking charges.
Recently released documents show that after Epstein reached a plea agreement in 2008, the disgraced financier and Pritzker continued to exchange friendly emails.
“My judgment in maintaining contact with them was extremely poor, and I failed to distance myself sooner. There is no excuse for that,” Pritzker said in the statement. “I condemn the actions of Epstein and Maxwell and the harm they caused, and I am deeply saddened by the pain they inflicted on victims.”
Pritzker said that after retirement he will focus on a scientific foundation he founded.
As more details about Epstein’s dealings have come to light, several high-profile individuals have resigned, with Pritzker being the latest. Former Goldman Sachs general counsel Kathryn Ruemmler and Paul Weiss chairman Brad Karp are among the recent business executives to step down. Both expressed regret over their association with Epstein and stated that related reports had disrupted their respective organizations.
Hyatt stated that the board has appointed CEO Mark Hoplamazian as the new chairman, effective immediately. Board member Richard Tuttle thanked Pritzker for his contributions in a press release, saying he played a “key role” in shaping the strategy of the Chicago-based company.
Editor: Li Tong
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jensen Huang's sudden resignation shrouded in suspicion: Did the White House secretly intervene? Is a return possible in the future?
Only a few days separated Jensen Huang’s strong support from the board last Sunday and his late-night resignation on Wednesday. Multiple reports of the Wednesday night Nvidia board meeting were co-authored by Washington-based journalists—who do not typically cover Nvidia—fueling rumors of "White House pressure and information leaks." Huang’s unique value lies in leveraging his personal reputation to secure the supply chain and drive the implementation of technological roadmaps, making him difficult to replace. Some analysts note that, drawing on examples such as Steve Jobs’ return to Apple, it is possible that Huang may come back in the future.
Gold recovers from YTD low, retakes $3,900; Fed hike bets and bullish USD to cap gains
Cerebras (CBRS.US) Cloud Business Soars, Masking Hardware Decline; OpenAI Supports Half of Cloud Revenue
Cerebras achieved record Q3 revenue, but hardware income dropped by nearly 30%, while cloud business accounted for two-thirds of total revenue. OpenAI contributed $72.4 million. The company raised its full-year guidance and expects Q4 to be close to breakeven.
Crypto prices
More
