Billionaire Tom Pritzker introduced on Monday he was retiring as executive chairman of Hyatt Hotels after his affiliation with convicted intercourse offender Jeffrey Epstein was revealed within the newest release of files by the US Justice Department.
Pritzker, who has been executive chairman since 2004, additionally mentioned he gained’t stand for re-election with the corporate’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 mentioned in a press release.
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 most recent highly effective determine dealing with repercussions after launch of recordsdata displaying the depth of Epstein’s community of enterprise and cultural elites.
Economist Larry Summers was earlier banned for life from the American Economic Association over his ties to the late intercourse offender. The head of DP Ports World, the world’s largest port operator, Sultan Ahmed bin Sulayem, was additionally replaced over his intimate friendship with Epstein.
This is a creating story and will probably be up to date.