President Trump Donald John TrumpBarr criticizes DOJ in speech declaring all agency power 'is invested in the attorney general' Military leaders asked about using heat ray on protesters outside White House: report Powell warns failure to reach COVID-19 deal could 'scar and damage' economy MORE’s choice to serve as Labor Secretary, Andrew Puzder, will step down as the chief executive officer of CKE Restaurant Holdings should the Senate confirm his nomination, CNN Money reported.

"I will not participate personally and substantially in any particular matter in which I know that I have a financial interest directly and predictably affected by the matter," Puzder wrote in a letter, which was obtained by the news network, to ethics officials. He also said he would return a pending 2016 bonus.

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The fast-food executive said he would sell holdings in over 200 companies within three months of being confirmed to the Labor Secretary post. Puzder also said he will sell the stock he owns back to CKE, which owns Hardee's and Carl's Jr.

Puzder is facing pushback from Democrats and labor groups over his business ties and vast wealth and his opposition to a higher minimum wage and Obama-era labor regulations.

Puzder earlier this week admitted that he and his wife unknowingly employed a housekeeper who was not legally authorized to work in the United States.

“When I learned of her status, we immediately ended her employment and offered her assistance in getting legal status. We have fully paid back taxes to the IRS and the State of California and submitted all required paperwork,” he said in a statement.

Puzder’s hearing in front of the Senate Committee on Health, Education, Labor and Pensions has been rescheduled for Feb. 16. It is the fourth time the date has been moved.