The Bill & Melinda Gates Foundation says Microsoft Corp. executive Jeff Raikes will be its next CEO.
The world’s largest charitable foundation has been looking for a new leader since chief executive Patty Stonesifer announced in February that she would be stepping down.
Raikes has been the top executive in Microsoft’s business software division, responsible for such things as the Office software suite, Microsoft’s server software and applications that help businesses track customers and business processes.
CONGRATULATIONS, Jeff Raikes, on your great new job as chief executive of the Bill & Melinda Gates Foundation. And good luck: you will certainly need it.
Unlike most other foundation CEO jobs, this is unlikely to be a comfortable pre-retirement sinecure. The Gates Foundation is by far the biggest charitable organisation in the world, and growing quickly. Next year, it is expected give away at least $3 billion, up from barely $1 billion a couple of years ago. Some insiders expect that number to rise as high as $6 billion in the near future.