Tennessee Governor-elect Bill Lee announced his departure as Chairman of Lee Company as he places his holdings of the company into a blind trust, according to a press release.

“As I said I would do on the campaign trail, I have officially stepped away from my company and placed all of my company holdings into a blind trust to eliminate any potential conflicts of interest,” said Lee. “I look forward to this new chapter of public service and I leave knowing that Lee Company is in good hands with CEO Richard Perko and the Board of Directors.”

Lee resigned from Lee Company on Dec. 21, 2018, after more than 35 years at the company. The company board of directors signed a board resolution removing Lee as chairman, effective at the close of business Wednesday, Jan. 9.

Additionally, Lee’s stock enters into a blind trust.

As previously announced, Lee Company will fulfill obligations to state contracts but will no longer pursue new state contracts. With holdings in a blind trust, Governor-elect Lee will no longer have communication with the company regarding contracts and other business decisions.

Lee Company is a family-owned construction, facilities and home services company with offices and operations throughout Middle Tennessee, north Alabama and southern Kentucky. Lee Company employs more than 1,200 people and has annual revenue in excess of $220 million.