Hyatt executive chairman steps down over Epstein ties

(CNN, KYMA) - Billionaire Tom Pritzker, the Executive Chairman of Hyatt Hotels, announced his retirement earlier this week.

This comes as the most recent release of files by the government that reveal Pritzker's association with convicted sex offender Jeffrey Epstein.

Pritzker has served as executive chairman of the hotel chain since 2004.

In a statement, Pritzker said he regretted his association with Epstein and Epstein's girlfriend, Ghislaine Maxwell. He said he used "terrible judgment in maintaining contact with them."

In leaving his top level role, Pritzker said, "Good stewardship also means protecting Hyatt." He adds that he also won't run for re-election with the company's board.

Pritzker is the latest powerful figure to apologize and take responsibility for associating with Epstein.