[Asia Economy Reporter Jeong Hyunjin] The Bill & Melinda Gates Foundation has, for the first time, recruited four external board members. This move was made to strengthen governance following the divorce of Bill Gates, the founder of Microsoft (MS), and Melinda French Gates, co-chair of the foundation.
According to the Wall Street Journal (WSJ) and others on the 26th (local time), the Gates Foundation announced that it appointed new board members including Strive Masiyiwa, founder of African technology company Econet Group; Baroness Nemat Shafik, Director of the London School of Economics (LSE); Thomas J. Tierney, co-founder of Bridgespan Group; and Mark Suzman, former CEO of the Gates Foundation.
Until now, the Gates Foundation had not included outsiders on its board. Instead, it operated a board composed of friends and family. However, after William Gates Sr., Bill Gates’ father, passed away in 2020, and Warren Buffett, a major donor who contributed over $30 billion to the foundation and chairman of Berkshire Hathaway, stepped down from the board last year, vacancies had existed.
The large-scale recruitment of board members by the Gates Foundation was triggered by the confirmed divorce of founder Bill Gates and Melinda French Gates last year. During this process, various scandals emerged, and with the division of assets and alimony payments, concerns arose that the foundation’s fate might also be affected.
The new board members are expected to begin their activities starting this week. The Gates Foundation anticipates that this recruitment will enhance diversity. The foundation stated, "We are considering adding additional board members to improve representation across gender, geography, and expertise." The board can have up to nine members, allowing for the appointment of three more members.
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