Khaberni - Thomas Pritzker, the executive chairman of Hyatt hotels, announced his resignation after documents released by the US Department of Justice revealed his connections with underage prostitution convict Jeffrey Epstein.
The billionaire heir, aged 75, said in a statement that he decided to retire after discussions with other board members.
Pritzker added: "Good management also means protecting Hyatt, especially in the context of my association with Jeffrey Epstein and Ghislaine Maxwell, something I deeply regret".
He continued: "I have shown very poor judgement by continuing to associate with them, there's no excuse for not distancing myself from them sooner. I condemn their actions and the harm caused by Epstein and Maxwell, and I deeply regret the pain they inflicted on their victims".
The documents revealed during the investigations into the Epstein case showed that Pritzker had been in regular contact with Epstein for many years.
Last week, Catherine Romer, the chief legal officer at Goldman Sachs, also resigned due to her connections with Epstein.
Thomas Pritzker's father, Jay Pritzker, began building the Hyatt hotel chain in the 1950s from a single hotel in Los Angeles, with the family continuing to exert significant control over the company.
Thomas Pritzker formerly served as the CEO of the hotels, and chaired the board for more than two decades.
