U.S. President-elect Donald Trump won't be involved in the day-to-day management of the Trump Organization once he takes office, the Wall Street Journal reported on Friday, citing an ethics plan from the company.

The Trump Organization on Friday announced that President-elect Donald Trump will not have any involvement in managing his real-estate and branding empire during his second term and appointed an outside ethics adviser to monitor major company actions – part of several measures the organization said it was taking to avoid conflicts of interest as Trump prepares to return to the White House later this month.

The Trump Organization submitted an ethics plan for Donald J. Trump’s second presidential term that doesn’t rule out striking new deals with foreign companies — a break with its approach to managing conflicts of interest when he first took office.

The company is set to release a series of ethics rules governing Donald Trump’s interactions with his business empire.