Tom Pritzker Resigns After Epstein Discovery
The list of executives resigning or losing positions after more Jeffrey Epstein files become public is growing. Students can read emails related to the latest: Tom Pritzer, Hyatt’s executive chairman.
Pritzer’s resignation letter to the board includes the following:
My job and responsibility is to provide good stewardship. That is important to me. Good stewardship includes ensuring a proper transition at Hyatt. 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.
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.
The first line is performative and was omitted from most news reports. As an issue of integrity, good stewardship requires good behavior while serving in a role, not just when resigning.
Students might read the first and second lines as a push from the board rather than a true resignation. Either way, it explains what students often wonder about executive resignations for personal improprieties: they affect the company. At the same time, Pritzker’s were related to Hyatt business, with emails showing him facilitating travel and arranging an interview for “the girl from Romania.”
The second bullet illustrates classic crisis communication strategies of distancing and downplaying, as though “contact” were his only crime. We see a similar theme in all statements related to Epstein—little true accountability.
The third bullet reflects a false show of sympathy few would believe after reading emails like these, which were sent ten years after Epstein plead guilty for sex crimes in Florida and as accusations piled up throughout the decade.
Students might discuss the best approach for these leaders. Another strategy is Lee Wexler’s. The billionaire and former CEO of Victoria's Secret said he “was duped by a world-class con man,” a tough claim to support.
Maybe this is one of those rare times when it’s better to say nothing at all.
Side note: Students might compare the UK response to the US response. Former Prince Andrew was arrested.
The New York Times is tracking resignations and other fallout from the Epstein files.