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Ivanka Trump steps down as director of Doonbeg golf resort
Trump himself resigned as a director of the two companies operating Doonbeg last month.
IVANKA TRUMP HAS followed her father by resigning as a director of two Irish companies that own and operate the US President’s hotel and golf resort in Doonbeg, Co Clare.
Donald Trump resigned as a director of TIGL Enterprises Ltd and TIGL Management Ltd last month – just weeks after he told media that he “couldn’t care less” about the resort following complications with planning permissions.
His resignation was also consistent with his previous indication that he would be stepping back from running his business empire to avoid conflicts of interest and concentrate on his new role as President.
Last week, the Companies Registration Office (CRO) received documents from the two companies stating that Ivanka Trump had also resigned as a director.
The 35-year-old businesswoman and former model has no formal role in the White House but is seen as a trusted and key adviser to her father. Her husband, Jared Kushner, also serves as a senior adviser to Trump.
She promised to distance herself from family companies in advance of her father’s inauguration last month, writing on social media: “I will no longer be involved with the management or operations of the Trump Organisation.”
Ivanka Trump has served as Executive Vice President of her father’s company, which has diverse interests that include hotels and golf courses across the globe, as well as a winery and modelling agency.
Two of the president’s other children, Eric and Donald Jr, remain as directors of TIGL Enterprises Ltd and TIGL Management Ltd.
Last month, accounts for TIGL Enterprises Ltd revealed that accumulated losses at the company had doubled last year to more than €5 million. President Trump remains the firm’s sole shareholder.
He acquired the resort in 2014 for around €8.7 million. It was valued at €23 million by the businessman just one year later in financial disclosures filed with the Federal Election Commission.
The company incurred a loss of €2,578,838 during 2015, bringing its total accumulated losses to €5,128,639 since it was established by Trump in January 2014.
TIGL Management Ltd reported accumulated profits of €146,938 in 2015 and had a cash balance of €253,597 at the end of the accounting period.
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