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Billionaire Thomas Pritzker resigned as chairman of Hyatt Hotels after his ties to Jeffrey Epstein were revealed in recent documents released by the US Department of Justice.
In a statement, he said he showed "terrible judgment" by maintaining contact with the convicted sex offender.
The leaked documents show that Pritzker was in regular contact with Epstein in the years following the financier's 2008 plea deal to sex crimes charges. He is the latest businessman to face scrutiny after the release of records that shed light on the extent of the late pedophile's contacts with members of the global elite.
Pritzker, who has held the position of executive chairman at the global hotel chain since 2004, said he decided to step down after discussions with other board members and will not run for re-election. “My job and responsibility is to provide good stewardship... Good stewardship includes ensuring a smooth transition at Hyatt,” the billionaire heir to the hotel chain said.
"Good defense also means defending Hyatt, especially in the context of my relationship with Jeffrey Epstein and Ghislaine Maxwell, for which I deeply regret."
Maxwell was convicted in 2021 for her role in luring underage girls to Epstein.
He was convicted in 2008 of soliciting children for prostitution and died while in custody, facing sex trafficking charges in 2019. Pritzker said he condemned the couple's actions, adding: "there is no excuse for not distancing themselves earlier."
His statement was accompanied by a letter to the board, in which Pritzker noted that he will turn 76 this year and that the company is in a “strong and stable position” to thrive. He did not mention his ties to Epstein or Maxwell in his letter to the board.
The board of directors named Mark Hoplamazian, Hyatt's president and CEO, to succeed Pritzker. Hoplamazian said Pritzker's decision "reflects his strong stewardship and commitment" to Hyatt over decades of service.
The release of the Epstein files has exposed the financier's connections to numerous prominent figures in politics, business and academia, many of whom are facing scrutiny. There is no indication that the appearance in the documents suggests any wrongdoing.
Earlier this month, Goldman Sachs' top lawyer, Kathy Ruhler, announced she was leaving the firm after emails included in the latest batch of Epstein documents showed she had a close relationship with the financier. She denied any knowledge of his criminal behavior.
Brad Karp, president of US law firm Paul Weiss, also resigned in February after email reports showed he discussed Epstein's 2008 conviction with him. The firm has previously said Karp "was never a witness to or participant in any wrongdoing".
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