(Bloomberg) — Andrew Puzder has agreed to divest an ownership stake worth as much as $50 million in the fast-food chain that includes Hardee's and Carl's Jr. restaurants if he's confirmed as the next U.S. labor secretary, according to his federal financial disclosure and ethics agreement.

Puzder, the chief executive officer of CKE Restaurants Inc., will also forfeit an unvested stake of as much as $5 million in the chain, according to the documents, which were obtained by Bloomberg News.

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