The Bill & Melinda Gates Foundation plans to introduce additional trustees to its governing board by early next year. Melinda French Gates will reportedly resign from the panel in the next two years if things don’t remain amicable for work between Melinda and her former partner.
The Chief Executive Officers of the foundation, Mark Suzman, and the operating and legal chief, Connie Collingsworth, will be in charge of leading the search and shall develop recommendations to ascertain the number of trustees and formulating the selection process, according to a statement on Wednesday. The announcement of new additions is scheduled for January 2022.
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The soon-to-be-divorced couple will be committing a fresh $15 billion to the organization, according to the statement. The fresh money is earmarked for the foundation’s endowment that stood at around $50 billion before the announcement, having given away about the same amount during the last two decades.
“These new resources and the evolution of the foundation’s governance will sustain this ambitious mission and vital work for years to come,” Bill Gates said.
Melinda iterated her commitment to the role of co-chair. These “governance changes bring more diverse perspectives and experience to the foundation’s leadership.” she said.