Ivanka Trump Formally Announces Leave of Absence from Businesses When Her Dad Takes Office
Ivanka Trump formally announced today that she will be taking a leave of absence from her various businesses once her father takes office.
Trump said in a Facebook post this afternoon that she will be stepping away from the Trump Organization and her fashion brand starting later this month:
This comes on the heels of President-elect Donald Trump saying earlier today that he’s handing over complete control of his business to his sons Donald Jr. and Eric.
Vanity Fair has more details on Ivanka Trump’s split from the business:
In order to comply with ethics laws, Ivanka has decided to step down from management and operations of the Trump Organization and from her eponymous fashion brand, and will resign from all officer and director positions she currently holds within each of them, according to a statement from Kushner’s attorney. She will sell all of her common stock and restructure her participation in Trump Organization transactions so that she no longer benefits from the profits. Instead, she will get a fixed series of payments from the revenue of a spate of projects. She will also recuse from participating in her interest in the Trump International Hotel in Washington, along with her interest in her brand.
[featured image via Albert H. Teich/Shutterstock]
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