President-elect Donald Trump has announced he is to leave his business empire to focus on the presidency and avoid perceived conflicts of interest.
Mr Trump gave few details but said he would expand on his plans at a press conference next month.
He has previously dismissed concerns over potential conflicts between his businesses and the presidency.
Meanwhile, former Goldman Sachs executive Steven Mnuchin confirmed he had been picked as treasury secretary.
Billionaire investor Wilbur Ross has been chosen for commerce secretary.
As Mr Trump noted there is no legal requirement to liquidate assets but past US presidents have set aside their business dealings.
Mr Trump’s rivals have raised repeated concerns this may cause problems in the coming months.
