Melinda Gates, the former wife of Microsoft’s founder has said she would step down as co-chair of the Bill & Melinda Gates Foundation from June 7.
The 59-year-old revealed on Monday to resign from the Foundation she has co-managed with her ex-husband since 2000.
Melinda, disclosed this on Monday via a statement on her X, insisting it was a difficult decision for her.
As part of her separation agreement from Bill Gates, Melinda said she will receive an additional $12.5 billion for her charitable work.
She added that her plans were to channel her charitable works on groups that focus on women and families.
“This is not a decision I came to lightly,” she said in a statement posted on X. “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.”
Backing the story, the Foundation’s chief executive officer, Mark Suzman, said the organisation will change its name to the Gates Foundation, and Bill Gates will become the sole chair.
“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work,” wrote Bill Gates in a separate statement Monday, also posted on X.
“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.
French Gates’ exit had been telegraphed for several years. Bill Gates and Melinda Gates announced their divorce in May 2021.
The former couple said at the time 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.
Suzman announced in July 2021 a contingency plan “to ensure the continuity of the foundation’s work.”
“If after two years either decides they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee,” Suzman said.