Melinda French Gates has said she will step down as co-chair of the Bill & Melinda Gates Foundation, the nonprofit she and her ex-husband Bill Gates founded more than 20 years ago.

“This is not a decision I came to lightly,” French Gates posted on X on Monday. “I am immensely proud of the foundation that Bill and I built together and of the extraordinary work it is doing to address inequities around the world.”

She praised the foundation’s CEO, Mark Suzman, and the board of trustees, which was significantly expanded after the couple announced their divorce in May 2021.

“The time is right for me to move forward into the next chapter of my philanthropy,” French Gates wrote in her statement, without giving further details.

French Gates will receive $12.5bn as part of her agreement with Gates, which she said would commit to future work focused on women and families. The foundation said US tech giant Microsoft co-founder Gates would supply those funds personally, not from the foundation’s endowment.

A spokesperson said it will change its name to the Gates Foundation.

‘Sorry to see her leave’

The foundation is one of the most powerful and influential forces in global public health, having spent more than $75bn since its inception to bring a business approach to combating poverty and disease.

Source: Al Jazeera 

BDST: 1615 HRS, MAY 14, 2024
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