India, Feb. 17 -- Thomas Pritzker, the billionaire who helped grow Hyatt Hotels into a global hospitality group, has stepped down as the company's executive chairman. He said he deeply regrets his past association with Jeffrey Epstein.

In a letter to Hyatt's board, the 75-year-old said he was resigning to protect the company from further damage to its reputation. He admitted he made a serious mistake by staying in touch with Epstein and Epstein's associate Ghislaine Maxwell even years after Epstein pleaded guilty in 2008 to soliciting a minor for prostitution.

Who is Thomas Pritzker? Thomas Pritzker is an American billionaire businessman and a leading member of the influential Pritzker family. He is best known for helping turn Hyatt Hot...