Hyatt executive chairman steps down over Epstein ties

By Ramishah Maruf, CNN

(CNN) — 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 US 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,” he 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 release of files showing the depth of Epstein’s network of business and cultural elites.

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

This is a developing story and will be updated.

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