...

Trump Organization documents say he has resigned from more than 400 businesses

Other News Materials 24 January 2017 01:09 (UTC +04:00)
President Donald Trump says he has resigned from positions in hundreds of business entities
Trump Organization documents say he has resigned from more than 400 businesses

President Donald Trump says he has resigned from positions in hundreds of business entities, according to a document provided to CNN by the Trump Organization.

The text of the 19-page letter reads: "I, Donald J. Trump, hereby resign from each and every office and position I hold" in more than 400 entities listed on the following pages.

The letter is signed by Trump and dated January 19, the day before he was sworn into office.
At a press conference January 11, Trump pledged to transfer his business holdings to a trust run by his sons, though not sell his ownership stake.

Sheri Dillon, a lawyer for Trump, said at the time that Trump would still receive reports on the overall profit of the Trump Organization.

She also said Trump's two adult sons, Don Jr. and Eric, would lead the company after he resigned, and Trump would not discuss the business with them.

White House Press Secretary Sean Spicer acknowledged the move at a briefing Monday afternoon.
"He has resigned from the company as he said he would before before he took office," Spicer said. "Don and Eric are fully in charge of the company."

Trump Organization General Counsel Alan Garten said in a statement to CNN on Monday that Trump "resigned from all positions of management and authority with The Trump Organization and its affiliates."

Garten also said Trump "transferred title, management and authority of those companies to a trust" to his sons and longtime Trump Organization executive Allen Weisselberg.

"Company records will be updated with the various states in the ordinary course as and when required by law," Garten said.

Tags:
Latest

Latest