Hyatt Announces Thomas J. Pritzker Retires as Executive Chairman and Will Not Seek Re-Election to Board of Directors; Mark S. Hoplamazian Assumes Combined Role of Chairman of the Board and Chief Executive Officer
Hyatt Announces Thomas J. Pritzker Retires as Executive Chairman and Will Not Seek Re-Election to Board of Directors; Mark S. Hoplamazian Assumes Combined Role of Chairman of the Board and Chief Executive Officer
Thomas J. Pritzker |
CHICAGO – Hyatt Hotels Corporation ("Hyatt," "the Company," "we," "us," or "our") (NYSE: H) today announced that Thomas J. Pritzker, Executive Chairman of the Board of Directors, has informed the Board that he will retire as Executive Chairman, effective immediately, and will not seek re-election to the Board of Directors at Hyatt’s upcoming Annual Meeting of Stockholders in May.
The Board has appointed Mark S. Hoplamazian, Hyatt’s President and Chief Executive Officer, to succeed Mr. Pritzker as Chairman of the Board, effective immediately.
Mr. Pritzker has served as a member of Hyatt’s Board and as Executive Chairman since August 2004 and began his senior executive and Chairman responsibilities for predecessor entities starting in 1980. During his tenure, he has provided strategic stewardship as Hyatt expanded its global brand presence, strengthened its asset-light business model, and delivered long-term value for stockholders.
Tom’s leadership has been instrumental in shaping Hyatt’s strategy and long-term growth, and we thank him for his service and dedication to Hyatt. The Board has engaged in thoughtful succession planning, and we are confident that Mark’s deep knowledge of Hyatt’s business, strong relationships with owners and colleagues, and proven track record as CEO of nearly two decades positions him well to serve as Chairman and continue driving Hyatt’s long-term success. Richard Tuttle, Chair of the Board’s Nominating and Corporate Governance Committee
I have been a proud member of the Hyatt family since the beginning of Hyatt. As I said in my letter to the Board, it has been both an honor and one of the great experiences of my life to have contributed to Hyatt’s growth,
said Mr. Pritzker. Hyatt is well positioned for the future, and I have great confidence in Mark, our leadership team, and the Board as they continue to build on our strong foundation.
I am honored by the Board’s confidence and look forward to serving as Chairman,
said Mr. Hoplamazian. Tom’s decision reflects his stewardship and strong commitment to Hyatt over his many decades of service. Looking ahead, we remain focused on executing our strategy for long-term growth, advancing care for our colleagues, delivering meaningful experiences for our guests, and driving performance for owners and value for our stockholders.
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Kiraku, Inc. or Hyatt's control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward-looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.
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Franziska Weber
Phone: +1 312 780 6106
Email: franziska.weber@hyatt.com
Hyatt Hotels Corporation
https://www.hyatt.com/development/
71 South Wacker Drive
USA - Chicago, IL 60606
Phone: 312-750-1234
Fax: 312-750-8550
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