Thomas J. Pritzker, the executive chairman of Hyatt Hotels, has announced that he will not be seeking re-election with the company’s board. Pritzker, who has been at the helm of Hyatt since 2004, has been a driving force behind the company’s success and growth.
In a statement released by Hyatt, Pritzker expressed his gratitude for the opportunity to lead the company for the past 15 years. He also shared his excitement for the future of Hyatt and his confidence in the company’s leadership team.
Pritzker’s decision to step down from his role as executive chairman comes as a surprise to many, as he has been a key figure in the company’s growth and expansion. Under his leadership, Hyatt has become one of the world’s leading hotel brands, with over 850 properties in more than 60 countries.
During his tenure, Pritzker has overseen significant developments within the company, including the launch of new brands such as Andaz, Hyatt Centric, and Hyatt Ziva and Zilara. He has also been instrumental in expanding Hyatt’s presence in emerging markets, such as China and India.
Pritzker’s leadership has been widely recognized and praised by industry experts and colleagues. He has been named one of the “World’s 100 Most Powerful People” by Forbes magazine and has received numerous awards for his contributions to the hospitality industry.
In his statement, Pritzker emphasized that his decision to step down was not due to any dissatisfaction with the company or its direction. He stated, “I am incredibly proud of what we have achieved at Hyatt and have full confidence in the company’s future success. It is simply time for me to step back and allow the next generation of leaders to take the company to new heights.”
Pritzker’s departure from his role as executive chairman will not be immediate. He will continue to serve in his current position until the company’s annual meeting in May 2020. This will allow for a smooth transition and ensure that the company’s operations and growth plans remain uninterrupted.
The news of Pritzker’s departure has been met with mixed reactions from the industry. While some are sad to see him go, many are excited to see what the future holds for Hyatt under new leadership. The company’s CEO, Mark Hoplamazian, expressed his gratitude for Pritzker’s contributions and his confidence in the company’s ability to continue to thrive.
Pritzker’s decision to step down is a testament to his commitment to the company’s success and his belief in the strength of its leadership team. It also reflects his dedication to ensuring a smooth transition and setting the company up for continued success in the future.
In conclusion, Thomas J. Pritzker’s announcement that he will not be seeking re-election with Hyatt’s board is a significant moment in the company’s history. Pritzker’s leadership has been instrumental in Hyatt’s growth and success, and his contributions will be remembered for years to come. As the company looks towards the future, there is no doubt that Pritzker’s legacy will continue to inspire and guide its continued success.
