NEW YORK — Melinda French Gates announced on Monday her decision to step down as co-chair of the Bill & Melinda Gates Foundation, a philanthropic organization she has co-led since 2000. As part of her separation agreement with her former husband, Bill Gates, Melinda will receive an additional $12.5 billion for her charitable endeavors. She expressed her intention to focus her philanthropic efforts on initiatives that support women and families.
In a statement posted on social media, French Gates stated, “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.” She is scheduled to leave her role at the foundation on June 7, with plans to reveal more details about her future charitable projects soon.
Following Melinda’s decision to depart, the organization will undergo a name change to the Gates Foundation, with Bill Gates assuming the sole chairmanship. The chief executive officer of the foundation, Mark Suzman, confirmed the leadership transition on Monday. Bill Gates expressed regret over Melinda’s departure but expressed confidence in her future philanthropic endeavors, emphasizing his dedication to continuing the foundation’s mission globally.
The separation of Bill and Melinda Gates had been anticipated for some time. The couple announced their divorce in May 2021 and agreed to a trial period to assess their ability to collaborate on managing their charitable foundation until 2023. Suzman unveiled a contingency plan in July 2021 to ensure the foundation’s operations remain stable in the event of any future changes in leadership.
As per the separation agreement, if the former couple finds it difficult to work together as co-chairs after the trial period, Melinda French Gates will resign from her position, allowing Bill Gates to maintain control. Additionally, French Gates will receive personal resources from Bill Gates to support her separate philanthropic endeavors, distinct from the foundation’s investments.
The Gates Foundation did not immediately respond to requests for comments regarding Melinda’s decision to step down. The development comes amidst ongoing changes in leadership and strategy at one of the world’s largest philanthropic organizations. The situation remains fluid, with updates expected as the transition progresses.