Hyatt executive chairman steps down over Epstein ties

Thomas Pritzker, executive chairman of Hyatt Hotels Corp., speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2018. (Dania Maxwell/Bloomberg/Getty Images via CNN Newsource)

Billionaire Tom Pritzker announced on Monday he was retiring as executive chairman of Hyatt Hotels after his association with convicted sex offender Jeffrey Epstein was revealed in the latest release of files by the U.S. Justice Department.

Pritzker, who has been executive chairman since 2004, also said he won’t stand for re-election with the company’s board.

“Good stewardship also means protecting Hyatt, particularly in the context of my association with Jeffrey Epstein and Ghislaine Maxwell which I deeply regret,” Pritzker, an heir to the Hyatt fortune, said in a statement.

He continued, “I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner.”

Pritzker is the latest powerful figure facing repercussions after the release of files showing the depth of Epstein’s network of business and cultural elites. The released files showed Pritzker in recurring contact with Epstein, even after Epstein’s controversial 2008 plea deal for procuring a minor for prostitution.

For example, economist Larry Summers was earlier banned for life from the American Economic Association over his ties to the late sex offender. Sultan Ahmed bin Sulayem, the head of DP World, the world’s largest port operator, was also replaced over his intimate friendship with Epstein.

Other global figures have also faced an outcry and a range of consequences for their relationships with Epstein.

In one example of contact between Pritzker and Epstein in 2018, Epstein enlisted Pritzker’s help in reservations for a woman traveling through Asia who was reportedly a girlfriend of his.

“Going to try to find a new girlfriend for Jeffrey,” the woman wrote in an email when Pritzker asked what she was going to do there.

“May the Force be with you,” Pritzker replied, along with a smiley face emoji.

The Hyatt board named Mark Hoplamazian, president and CEO of Hyatt, to succeed Pritzker as chairman of the board effective immediately.

CNN has reached out to the Pritzker Organization, which manages the family fortune and investments, and where Pritzker is currently listed as executive chairman.

By Ramishah Maruf, CNN

CNN’s Auzinea Bacon contributed to this report.