New York, May 13 (CNN/GNA) — Melinda French Gates said Monday she would resign as co-chair of the Bill & Melinda Gates Foundation that she has helped lead since 2000.
As part of her separation agreement from former husband Bill Gates, French Gates said she will receive an additional $12.5 billion for her charitable work. French Gates said she plans to focus her giving 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.”
French Gates said she plans to leave the Bill & Melinda Gates Foundation on June 7, and she will share more about her future charitable plans in the near future.
The organization will change its name to the Gates Foundation, and Bill Gates will become the sole chair, the foundation’s CEO, Mark Suzman, announced on Monday.
“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.
GNA/Credit: CNN