Gates Foundation staff are ‘freaking out’ about its future, says report
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Staff at the Bill & Melinda Gates Foundation are reportedly "freaking out" about its future following the divorce of its founders.
A former chief executive told the Financial Times on Sunday that staffers were “freaking out a little bit,” because the future of the billion dollar non-profit has been thrown into doubt.
On Wednesday, an agreement to work together for a further two years was announced by the foundation, securing Ms French Gates’ role as a co-chair in the short-term.
The foundation said trustees would be appointed to work with Mr Gates and Ms French Gates to oversee its work.
As the FT reported, staffers were allegedly worried that the reputation of the billion dollar foundation had been thrown into “jeopardy” by the divorce.
“People are really worried that the credibility and standing of the foundation is in jeopardy now, especially in areas like gender empowerment”, a former chief executive said of the two-year agreement.
The Gates announced in May that they after 27 years of marriage, they could not “grow together as a couple in the next phase” of their lives.
It came less than two years after Ms French Gates, in an interview with CNBC, said there were “moments in our marriage where I was asking Bill for more equality.”
She added that her story was as “also the story of millions of women”.
A former executive told the FT: “She must have felt some of that pressure to show she was an equal. There were times he was so dismissive of everyone in the room, including her.”
Both Mr Gates and Ms French Gates expressed their commitment to the future of the foundation, which is reportedly worth around $55bn (£40bn), and has spent billions on fighting poverty and disease around the world.
In a press statement, the duo said the decision to remain as co-chairs was to "ensure the continuity of the foundation's work."
But, it said that "if after two years either decides they cannot continue to work together as co-chairs, French Gates will resign her position as co-chair and trustee."
The Gates Foundation has been approached for comment.
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