Hyatt Hotels Corporation has announced that Thomas J. Pritzker, the Executive Chairman of the Board, has informed the Board of his immediate retirement. This follows the release of files showing Pritzker and Epstein exchanged friendly emails after Epstein’s 2008 plea deal.
The Board has appointed Mark S. Hoplamazian, Hyatt’s President and CEO, to succeed Mr. Pritzker as Chairman of the Board, effective immediately.
In a statement, Richard Tuttle, Chair of the Board’s Nominating and Corporate Governance Committee, told investors, “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. The Board has engaged in thoughtful succession planning, and we are confident that Mark’s deep knowledge of Hyatt’s business, strong relationships with owners and colleagues, and proven track record as CEO of nearly two decades positions him well to serve as Chairman and continue driving Hyatt’s long-term success.”
Pritzker stated, “I have been a proud member of the Hyatt family since the beginning of Hyatt. As I said in my letter to the Board, it has been both an honor and one of the great experiences of my life to have contributed to Hyatt’s growth. Hyatt is well positioned for the future, and I have great confidence in Mark, our leadership team, and the Board as they continue to build on our strong foundation.”
Hoplamazian said, “I am honored by the Board’s confidence and look forward to serving as Chairman. Tom’s decision reflects his stewardship and strong commitment to Hyatt over his many decades of service. Looking ahead, we remain focused on executing our strategy for long-term growth, advancing care for our colleagues, delivering meaningful experiences for our guests, and driving performance for owners and value for our stockholders.”
Pritzker, who served on Hyatt’s Board and as Executive Chairman since August 2004, joins a list of several high-profile resignations as more information about Epstein’s activities emerges. Recently, Goldman Sachs’ former Legal Chief Kathryn Ruemmler and Paul Weiss Chair Brad Karp also resigned from their roles amid mounting pressure.
Being part of the Epstein files release does not suggest any misconduct.
By CEO NA Editorial Staff
