Tuesday, May 13, 2008
The Chronicle of Philanthropy announced on May 12, 2008, that Jeffrey S. Raikes will be the new CEO of the Bill and Melinda Gates Foundation, the world's largest foundation. Mr. Raikes, a former Microsoft executive and founder of his own $100+ million foundation, will start in September when the current CEO, Patty Stonesifer, steps down after 11 years as the founding CEO of Gates Foundation. Here is an excerpt from the article:
Ms. Gates said the foundation chose Mr. Raikes, in part, because of his demonstrated success at managing during periods of high growth. Mr. Raikes had most recently been president of Microsoft’s business-software division, which is responsible for such things as the Office software suite.
“We really wanted somebody to build on the organization that we have today,” Ms. Gates said.
She said that all three of the foundation’s presidents — Allan C. Golston, who heads the U.S. Program; Tadataka Yamada, president of the Global Health Program; and Sylvia Mathews Burwell, president of the Global Development Program — approved of Mr. Raikes’s selection.
“I have much to learn, but being able to work with a tremendous team will be very exciting for me,” Mr. Raikes said.
For the entire article, see "Gates Foundation Picks Microsoft Veteran as New CEO," in the May 12, 2008, issue of the Chronicle of Philanthropy.