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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 CEO

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,” said Richard Tuttle, Chair of the Board’s Nominating and Corporate Governance Committee. “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.”


“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.”... Read more here

 


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