At a press conference dizzying in its range of topics, President-elect Donald Trump announced Wednesday that he would not divest his business assets, but would turn management over to his sons.
His daughter Ivanka will resign her position with the company to focus on settling her family in Washington. Trump has chosen Ivanka’s husband, Jared Kushner, as his senior adviser.
Trump’s attorney said profits from existing foreign business would go to the U.S. Treasury, rather than to the Trump Organization. Trump will also select an ethics adviser to review any new domestic deals.
As the New York Times reported, the arrangement “fell short of the recommendations of ethics experts in both parties.”