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Hotel magnate Thomas Pritzker has stepped down as executive chair at Hyatt, after documents released by the US Department of Justice revealed the extent of his ties with sex offender Jeffrey Epstein.
Hyatt said on Monday that Pritzker would step down “effective immediately” and be replaced by Mark Hoplamazian, the hotel chain’s president and chief executive.
Pritzker’s exit comes after documents revealed extensive email correspondence and references to meetings between the billionaire and Epstein, spanning more than a decade until 2019.
Epstein pleaded guilty to state charges of soliciting prostitution from a minor in 2008. He was arrested on federal child sex trafficking charges in 2019 and later died in prison.
“My job and responsibility is to provide good stewardship,” Pritzker said in a statement on Monday.
“Good stewardship . . . 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, 75, was executive chair of Hyatt since 2004, having previously served as president and chief executive. The hotel group was founded by his father, Jay Pritzker.
Pritzker also corresponded with Maxwell, who was found guilty of trafficking minors for sex for Epstein in 2021 and later sentenced to 20 years in prison.
Pritzker’s departure marks the latest corporate downfall from the sweeping disclosures of Epstein’s emails, which have reverberated globally.
Brad Karp stepped down earlier this month as chair of US law firm Paul Weiss following revelations about his links to Epstein. Goldman Sachs general counsel Kathy Ruemmler also last week announced plans to resign after details emerged about her ties to Epstein.