Microsoft alum to lead Gates charity
USA TODAY, May, 2008 by Julie Schmit
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The Bill & Melinda Gates Foundation, the world's biggest private charity, tapped a respected Microsoft insider Monday as its next chief executive, strengthening a trend to infuse charities with more business acumen.
Jeff Raikes, who announced his retirement as head of Microsoft's business division in January, will take over in September. He will succeed Patty Stonesifer, another former Microsoft employee who led the foundation from its start 11 years ago.
Raikes oversaw the fast growth of Microsoft's business division, including Microsoft Office, and he is taking charge of the foundation, which has in excess of $37 billion, at a time of rapid expansion.
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Billionaire investor Warren Buffett in 2006 pledged the bulk of his fortune, about $31 billion at the time, to the foundation, effectively doubling its annual spending by 2009. "The foundation is going to have to double its size in the next few years, and Raikes ...
