Melinda French Gates, co-chair of the Bill and Melinda Gates Foundation, announced on Monday that she will be stepping down from her position, prompting the foundation to change its name to the Gates Foundation. French Gates, who has been a key figure in the organization since 2000, will officially leave on June 7th.
As part of her separation agreement from her former husband Bill Gates, French Gates will receive an additional $12.5 billion for her charitable endeavors. The philanthropist, aged 59, expressed her intention to focus on initiatives that empower women and support families moving forward.
In a statement, French Gates shared, “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.”
Bill Gates also expressed his gratitude towards Melinda for her contributions to the foundation, highlighting her role in shaping strategies related to global health and gender equality. He emphasized his commitment to continuing the foundation’s work and expressed confidence in the team’s ability to make significant progress under the leadership of Mark Suzman and the board of trustees.
The couple’s decision to part ways professionally follows their divorce in 2021, with both parties indicating that they may not be able to collaborate effectively in the future. Despite the changes, the Gates Foundation remains dedicated to its mission of improving the lives of individuals worldwide.