Billionaire Hyatt chair Thomas Pritzker steps down after Epstein fallout
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- Thomas Pritzker said he is retiring as Hyatt's executive chairman on Monday.
- Pritzker cited poor judgment over his ties to Jeffrey Epstein and Ghislaine Maxwell.
- Mark Hoplamazian, Hyatt's CEO, was appointed chairman.
Thomas Pritzker is stepping down as executive chairman of Hyatt Hotels Corporation, saying that he "exercised terrible judgment" in maintaining contact with Jeffrey Epstein and Ghislaine Maxwell.
The 75-year-old billionaire said he is retiring effective immediately and will not seek reelection to Hyatt's board at its 2026 annual meeting, the company said on Monday.
The decision comes amid renewed scrutiny of prominent business leaders over past ties to Epstein, years after the financier's 2019 death in federal custody and following the latest public release of Epstein-related documents.
In a statement published alongside a letter from Pritzker to the board, he said his responsibility as executive chairman was to "provide good stewardship."
"Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell which I deeply regret," he said. "I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner."
Pritzker had served as executive chairman since 2004. In his letter, he said Hyatt is "in a strong and sustainable position" and that his departure would help ensure a proper leadership transition. He said he turns 76 in June and that standing for reelection would mean committing to another three-year term as executive chairman, which also influenced his decision to retire.
Hyatt said its board appointed President and CEO Mark Hoplamazian as chairman, effective immediately.