President-elect Donald Trump plans to close his foundation to avoid any conflict of interest. From The Hill:

“The Foundation has done enormous good works over the years in contributing millions of dollars to countless worthy groups, including supporting veterans, law enforcement officers and children,” Trump said in a statement.

“However, to avoid even the appearance of any conflict with my role as President I have decided to continue to pursue my strong interest in philanthropy in other ways,” he added.

The New York Times first reported Saturday that Trump planned to shutter his Donald J. Trump Foundation and distribute its assets.

Trump is under pressure to contain his various potential conflicts of interest related to his business and charitable dealings ahead of his inauguration Jan. 20.

The foundation, which has been the subject of several controversies and investigations, was originally set up to give away the proceeds from Trump’s bestselling book, “The Art of the Deal.”