President Trump has resigned from all positions of authority and management within the Trump Organization and its affiliates, the Trump Organization confirmed in a statement Monday.
“President Trump also transferred title, management and authority of those companies to a trust, or subsidiaries thereof, collectively managed by his children, Don and Eric, and longtime executive and chief financial officer, Allen Weisselberg,” the statement said.
Mr. Trump resigned from his main company as well as 400 affiliates, a document obtained by CBS News shows.
“Company records will be updated with the various states in the ordinary course as and when required by law,” the statement said.
The president’s decision to step down and hand over the management role to his sons was announced in a plan Jan. 11.
White House press secretary Sean Spicer also confirmed Monday that Mr. Trump had resigned before he took office last Friday and now his sons, Don and Eric, are fully in charge of the company.
CBS News’ Laura Strickler contributed to this report.