Hyatt Hotels Chairman Thomas Pritzker Resigns Amid Jeffrey Epstein Controversy
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In a significant leadership change, Hyatt Hotels Executive Chairman Thomas Pritzker announced his immediate resignation following revelations from the Department of Justice (DOJ) regarding his connections to convicted sex offender Jeffrey Epstein.
Pritzker, 75, informed the company’s board that he will not seek re-election at Hyatt’s stockholder meeting scheduled for May, marking the end of his 22-year tenure as chairman. He admitted to exercising poor judgment by not distancing himself from Epstein, who died in jail in 2019 while awaiting trial on sex trafficking charges, and Ghislaine Maxwell, who was also convicted of trafficking minors.
In a statement, Pritzker expressed regret, saying, “My job and responsibility is to provide good stewardship. Following discussions with my fellow Board members, I have decided, after serving as Executive Chairman since 2004, and with the company in a strong position, that now is the right time for me to retire from Hyatt.”
EPSTEIN DOCS REVEAL HOTEL MAGNATE TOM PRITZKER, KIN OF DEMOCRATIC ILLINOIS GOV
Tom Pritzker, executive chairman of the Hyatt Hotels Corporation, is seen on Dec. 4, 2004. (Michael L Abramson/Getty Images)
Pritzker further stated, “Good stewardship also 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. I condemn the actions and the harm caused by Epstein and Maxwell and I feel deep sorrow for the pain they inflicted on their victims.”
Mark S. Hoplamazian will assume the dual role of chairman and chief executive, as announced by the company. Pritzker, a billionaire hotel magnate and cousin of Illinois Governor JB Pritzker, was named in numerous unredacted documents released by the DOJ earlier this year, which are part of an ongoing investigation into Epstein’s extensive network.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| H | HYATT HOTELS CORP. | 169.59 | +4.20 | +2.54% |
According to the released files, Pritzker and Epstein exchanged numerous emails, including attempts to arrange dinner plans and invitations to various events, as reported by Fox 32 Chicago.
Virginia Giuffre, a prominent accuser of Epstein, alleged in a May 2016 deposition that she had a sexual encounter with Pritzker during her abuse. However, Pritzker’s spokesperson has strongly denied these allegations in a statement to FOX Business.
JEFFREY EPSTEIN LIST: COURT UNSEALS NAMES IN GHISLAINE MAXWELL LAWSUIT
Jeffrey Epstein and Ghislaine Maxwell attend an event on March 15, 2005, in New York City. (Joe Schildhorn/Patrick McMullan via Getty Images)
Pritzker has been at the helm as executive chairman since 2004, guiding the company through significant milestones, including its 2009 public offering and the challenges posed by the COVID-19 pandemic in 2020.
Richard Tuttle, chair of the board’s nominating and corporate governance committee, praised Pritzker’s contributions, stating, “Tom’s leadership has been instrumental in shaping Hyatt’s strategy and long-term growth, and we thank him for his service and dedication to Hyatt.”
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The Manchester Grand Hyatt Hotel in San Diego, California, on Feb. 11, 2018. (Patrick T. Fallon/Bloomberg via Getty Images)
The board has engaged in thoughtful succession planning, expressing confidence in Mark’s extensive knowledge of Hyatt’s business and his strong relationships with owners and colleagues. His proven track record as CEO for nearly two decades positions him well to lead the company into the future.
FOX Business’ Eric Revell contributed to this report.
Check out what’s clicking on FoxBusiness.com.
In a significant leadership change, Hyatt Hotels Executive Chairman Thomas Pritzker announced his immediate resignation following revelations from the Department of Justice (DOJ) regarding his connections to convicted sex offender Jeffrey Epstein.
Pritzker, 75, informed the company’s board that he will not seek re-election at Hyatt’s stockholder meeting scheduled for May, marking the end of his 22-year tenure as chairman. He admitted to exercising poor judgment by not distancing himself from Epstein, who died in jail in 2019 while awaiting trial on sex trafficking charges, and Ghislaine Maxwell, who was also convicted of trafficking minors.
In a statement, Pritzker expressed regret, saying, “My job and responsibility is to provide good stewardship. Following discussions with my fellow Board members, I have decided, after serving as Executive Chairman since 2004, and with the company in a strong position, that now is the right time for me to retire from Hyatt.”
EPSTEIN DOCS REVEAL HOTEL MAGNATE TOM PRITZKER, KIN OF DEMOCRATIC ILLINOIS GOV
Tom Pritzker, executive chairman of the Hyatt Hotels Corporation, is seen on Dec. 4, 2004. (Michael L Abramson/Getty Images)
Pritzker further stated, “Good stewardship also 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. I condemn the actions and the harm caused by Epstein and Maxwell and I feel deep sorrow for the pain they inflicted on their victims.”
Mark S. Hoplamazian will assume the dual role of chairman and chief executive, as announced by the company. Pritzker, a billionaire hotel magnate and cousin of Illinois Governor JB Pritzker, was named in numerous unredacted documents released by the DOJ earlier this year, which are part of an ongoing investigation into Epstein’s extensive network.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| H | HYATT HOTELS CORP. | 169.59 | +4.20 | +2.54% |
According to the released files, Pritzker and Epstein exchanged numerous emails, including attempts to arrange dinner plans and invitations to various events, as reported by Fox 32 Chicago.
Virginia Giuffre, a prominent accuser of Epstein, alleged in a May 2016 deposition that she had a sexual encounter with Pritzker during her abuse. However, Pritzker’s spokesperson has strongly denied these allegations in a statement to FOX Business.
JEFFREY EPSTEIN LIST: COURT UNSEALS NAMES IN GHISLAINE MAXWELL LAWSUIT
Jeffrey Epstein and Ghislaine Maxwell attend an event on March 15, 2005, in New York City. (Joe Schildhorn/Patrick McMullan via Getty Images)
Pritzker has been at the helm as executive chairman since 2004, guiding the company through significant milestones, including its 2009 public offering and the challenges posed by the COVID-19 pandemic in 2020.
Richard Tuttle, chair of the board’s nominating and corporate governance committee, praised Pritzker’s contributions, stating, “Tom’s leadership has been instrumental in shaping Hyatt’s strategy and long-term growth, and we thank him for his service and dedication to Hyatt.”
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Manchester Grand Hyatt Hotel in San Diego, California, on Feb. 11, 2018. (Patrick T. Fallon/Bloomberg via Getty Images)
The board has engaged in thoughtful succession planning, expressing confidence in Mark’s extensive knowledge of Hyatt’s business and his strong relationships with owners and colleagues. His proven track record as CEO for nearly two decades positions him well to lead the company into the future.
FOX Business’ Eric Revell contributed to this report.
