India, Feb. 17 -- Tom Pritzker, the billionaire chairman of the global hospitality giant Hyatt Hotels Corporation, has announced that he is stepping down from the company's board and leadership on February 16.

This announcement comes as the release of the new tranche of the Epstein files linked Pritzker to convicted sex offender Jeffrey Epstein. Pritzker said in a statement that he deeply regretted his past associations and that stepping down was part of "good stewardship" to safeguard the company's reputation.

"I exercised terrible judgment in maintaining contact with them, and there is no excuse for failing to distance myself sooner," he said.

Tom Pritzker is a member of the renowned Pritzker family in Chicago, known for its extensiv...