Melinda French Gates has announced that she will resign as co-chair of the Bill and Gates Foundation.
Ms Gates made this known on Monday in a statement on her X handle.
The ex-wife of multibillionaire and Microsoft founder, Bill Gates, helped build the Bill and Melinda Foundation in 2000 and has been co-chair of the foundation since then.
Her resignation as co-chair of the foundation will take effect from 7th June, 2024.
Melinda’s statement reads, “After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation. My last day of work at the foundation will be June 7th.
“This is not a decision I came to lightly. 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.
“I care deeply about the foundation team, our partners around the world, and everyone who is touched by its work.
“I am taking this step with full confidence that the foundation is in strong shape, with its extremely capable CEO Mark Suzman, the Executive Leadership Team, and an experienced board of trustees in place to ensure all its important work continues.
“The time is right for me to move forward into the next chapter of my philanthropy.
“This is a critical moment for women and girls in the U.S. and around the world—and those fighting to protect and advance equality are in urgent need of support.
“Under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.
“I’ll be sharing more about what that will look like in the near future.”
Meanwhile, the foundation’s CEO, Mark Suzman, announced on Monday that the organization will change its name to the Gates Foundation, and Bill Gates will become the sole chair.
Bill Gates in a separate post on Monday in his X handle wrote, “I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,
“Looking ahead, I remain fully committed to the Foundation’s work across all our strategies, and to realizing the opportunities we have to continue improving the lives of millions around the world,”
Melinda French Gates has consistently been ranked as one of the world’s most powerful women by Forbes magazine.
