Washington [US], May 13 : Melinda French Gates on Monday, said that she would resign as co-chair of the Bill & Melinda Gates Foundation, stressing that the time is "right for me" to move forward into the next chapter of my philanthropy.
Melinda, who has helped the lead since 2000, said that as part of her separation agreement from her former husband Bill Gates, she will receive an additional USD 12.5 billion for her charitable work.
"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," Melinda French Gates said in a post shared on X.
She further emphasised that she is taking this step with full confidence that the Gates Foundation is in strong shape.
"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," she added.
https://x.com/melindagates/status/1790049411227086949
"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," Melinda said in her post.
Following the announcement, Bill Gates in a separate statement on Monday, posted, "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," he wrote.
However, French Gates' exit had been telegraphed for several years, reported CNN.
Bill Gates and French Gates announced their divorce in May 2021, saying that they would allow themselves a kind of trial period through 2023 to determine if they could continue working with one another to oversee their massive charitable foundation.
Later in July 2021, the foundation's CEO announced a contingency plan "to ensure the continuity of the foundation's work."
"If after two years either decide they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee," CEO Mark Suzman said, according to CNN.
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