<ul class="summary-list"><li><keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword> warned the <keyword id="166999" type="ORGANIZATION" weightage="60" keywordseo="Bill-Melinda-Gates-Foundation">Bill &amp; Melinda Gates Foundation</keyword>'s CEO about the "ABCs" last year.</li><li>The investor sees arrogance, <keyword id="58939" type="PERSON" weightage="60" keywordseo="Bureaucracy">bureaucracy</keyword>, and complacency as major threats to large organizations.</li><li>Buffett, who has gifted $33 billion to the foundation, once called the ABCs "corporate cancers."</li></ul>Warren Buffett told the CEO of the Bill &amp; Melinda Gates Foundation that the greatest threats to the philanthropic behemoth were cockiness, red tape, and self-satisfaction. The billionaire investor and <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> CEO, who has gifted a total of $33 billion to the foundation and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-resigns-gates-foundation-trustee-hits-giving-milestone-2021-6">resigned as its trustee</a> in June, has warned about those forces in the past.<keyword id="3026074" type="PERSON" weightage="60" keywordseo="Mark-Suzman">Mark Suzman</keyword> took charge of the Gates Foundation early last year, and promptly flew to Buffett's hometown of Omaha, Nebraska to have lunch with the investor and seek his guidance."He told me then that my most important job was to guard against the 'ABC' risks of decay that all very large organizations face: arrogance, bureaucracy, and complacency," Suzman wrote in a <a href="https://www.gatesfoundation.org/ideas/articles/warren-buffett-philanthropy">recent email</a> to the foundation's employees.Buffett pledged in 2006 to donate over 99% of his wealth to the Gates Foundation and four other foundations, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-donates-berkshire-hathaway-stock-philanthropy-wealth-billionaire-taxes-2021-6">reached the halfway mark</a> towards that goal in June. His advice to Suzman isn't surprising; he wrote in his <a href="https://www.berkshirehathaway.com/letters/2014ltr.pdf">2014 letter</a> to Berkshire shareholders that when he retires, a big part of his replacement's job will be warding off those exact threats."My successor will need one other particular strength: the ability to fight off the ABCs of business decay, which are arrogance, bureaucracy and complacency," Buffett said. "When these corporate cancers metastasize, even the strongest of companies can falter."The Berkshire chief went on to highlight General Motors, IBM, Sears Roebuck, and US Steel as examples of corporate titans that once appeared to have unassailable grips on their industries. "The destructive behavior I deplored above eventually led each of them to fall to depths that their CEOs and directors had not long before thought impossible," he said.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-best-investments-third-quarter-credit-suisse-2021-7" target="_blank" rel="noopener">Buy these 30 stocks with 'best-in-class' fundamentals and cheaper valuations that will help them dominate the market, Credit Suisse says</a>Buffett noted in the letter that he structured his company to minimize red tape. Berkshire's decentralized web of autonomous subsidiaries, underpinned by a culture of trust, acts as the "ideal antidote to bureaucracy," he said. Berkshire also saves money and boosts efficiency by not having HR, PR, IR, legal, acquisitions, and other departments in its headquarters, he added.The investor singled out the "B" in the ABCs again in his <a href="https://www.berkshirehathaway.com/letters/2009ltr.pdf">2009 shareholder letter</a>."We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly - or not at all - because of a stifling bureaucracy," Buffett said.Given Buffett's clear disdain for the ABCs, it's no surprise that he told Suzman that his primary focus should be preventing the Gates Foundation from succumbing to them.

Warren Buffett warned the Bill & Melinda Gates Foundation's CEO about the 'ABCs.' The investor has flagged those threats before

<ul class="summary-list"><li>The Bill &amp; <keyword id="131379" type="PERSON" weightage="60" keywordseo="Melinda-Gates">Melinda Gates</keyword> Foundation may soon shake up its governance.</li><li>The foundation is considering adding a board and bringing in outside directors, per a report.</li><li><keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> and <keyword id="190919" type="PERSON" weightage="60" keywordseo="Melinda-French-Gates">Melinda French Gates</keyword> are said to want to protect the charity after their divorce.</li></ul>Bill Gates and Melinda French Gates are considering shaking up their $50 billion foundation by bringing in outside directors, according to a report by <a href="https://www.wsj.com/articles/bill-gates-and-melinda-french-gates-explore-changes-to-foundation-11622146703?mod=business_lead_pos11">The Wall Street Journal</a>.The Journal reported that French Gates had pushed for governance changes at <a href="https://www.businessinsider.com/biggest-projects-of-generous-philanthropists-bill-and-melinda-gates-2018-8">the Bill &amp; Melinda Gates Foundation</a> in recent weeks to protect it after their planned divorce.The foundation currently has three trustees: Gates, French Gates, and the billionaire investor <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>. The couple are discussing both adding a board and bringing in outside directors, The Journal reported, citing sources familiar with the couple.<a href="https://www.businessinsider.com/biggest-projects-of-generous-philanthropists-bill-and-melinda-gates-2018-8">The foundation</a> has more than 1,600 staff members and is one of the world's biggest philanthropic foundations, with an <a href="https://www.gatesfoundation.org/about/foundation-fact-sheet">endowment</a> of $49.8 billion as of 2019.The foundation, which the couple set up in 2000, hasn't made any changes to its governance yet, CEO Mark Suzman told the publication.And the couple, who announced their <a href="https://www.businessinsider.com/bill-melinda-gates-announce-divorce-end-marriage-2021-5">divorce</a> May 3 after 27 years of marriage, still plan on working together at the foundation, Suzman added.Read more: <a href="https://www.businessinsider.com/wealth-fortune-separation-divorce-laws-lawyers-bill-melinda-gates-settlement-2021-5?inline-read-more">How the ultrarich avoid messy public divorce battles by keeping their disputes out of court</a>Gates and French Gates are also cochairs of the foundation and provide strategic direction and long-term planning, while Suzman handles its day-to-day running as CEO.Leaders at the foundation want to protect its reputation following the divorce announcement, the people told The Journal. They added that some grant recipients had contacted the foundation with questions about <a href="https://www.businessinsider.com/bill-gates-jeffrey-epstein-ties-melinda-divorce-2021-5">Gates' ties to the convicted sex offender Jeffrey Epstein</a>.Gates' <a href="https://www.businessinsider.com/bill-gates-image-likable-nerdy-philanthropist-fell-apart-2021-5">reputation has taken a hit</a> from a flurry of <a href="https://www.businessinsider.com/bill-gates-harassment-inappropriate-conduct-women-microsoft-jeffrey-epstein-2021-5">scandals</a> that have emerged since the divorce announcement - including an office affair, allegations of an "uncomfortable" workplace behavior, and ties to Epstein. A growing number of reports suggest a <a href="https://www.businessinsider.com/melinda-gates-divorce-bill-gates-since-at-least-2019-wsj-2021-5">rocky relationship</a> between the philanthropist couple in recent years, contrasting with their public statements.<h2>Suzman: The couple remain committed to the foundation</h2>In matching statements announcing their divorce, the couple had said that they would <a href="https://www.businessinsider.com/biggest-projects-of-generous-philanthropists-bill-and-melinda-gates-2018-8">continue their work together after the divorce</a>, and a representative for the foundation told <a href="https://nypost.com/2021/05/03/everything-to-know-about-the-bill-melinda-gates-foundation/">the New York Post</a> that "no changes to their roles or the organization are planned."But Suzman told The Journal that he, Gates, French Gates, and Buffett were discussing options to "strengthen the long-term sustainability and stability of the foundation given the cochairs' divorce." He said no decisions had been made."Bill and Melinda have reaffirmed their commitment to the foundation and continue to work together on behalf of our mission," he said. "These discussions are part of their prudent planning for the future."The foundation has funded work in areas including <a href="https://www.businessinsider.com/biggest-projects-of-generous-philanthropists-bill-and-melinda-gates-2018-8">global health, emergency relief, education, and poverty</a>, giving about $5 billion in grants annually, and has pumped about $1.75 billion into COVID-19 relief efforts.Gates stepped down as the CEO of Microsoft in 2008 to focus on the foundation, and he <a href="https://www.businessinsider.com/bill-gates-steps-down-microsoft-berkshire-hathaway-boards-2020-3">left the boards of Microsoft and Berkshire Hathaway</a> in March 2020, stating the same reason.

Bill and Melinda Gates might shake up their charity to protect it after their divorce, which could include bringing in outside directors, according to a report

<ul class="summary-list"><li>Melinda French Gates and <keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> have agreed to work as co-chairs of the <keyword id="102649" type="ORGANIZATION" weightage="60" keywordseo="Gates-Foundation">Gates foundation</keyword> for 2 years.</li><li>If they cannot continue to work together, Melinda will resign, <a href="https://www.nytimes.com/2021/07/07/business/gates-foundation-divorce.html?smtyp=cur&amp;smid=tw-nytimesimes">The New York Times</a> reported.</li><li>The billionaire couple announced their divorce in May 2021.</li></ul>Melinda French Gates will step down as co-chair of the Gates Foundation in two years if she and Bill cannot work together at the helm.Melinda and Bill Gates, who announced their <a href="https://www.businessinsider.com/bill-melinda-gates-announce-divorce-end-marriage-2021-5">divorce</a> in May, will continue to work as co-chairs of the Gates Foundation, overseeing its $50 billion endowment that just got an additional $15 billion from the couple, for the next two years. If the two cannot "continue to work together," Melinda will step down, according to a <a href="https://www.gatesfoundation.org/ideas/media-center/press-releases/2021/07/bill-melinda-gates-foundation-mark-suzman-plans-evolve-governance">press release</a>."They have agreed that if after two years either one of them decides that they cannot continue to work together, Melinda will resign as co-chair and trustee," Mark Suzman, CEO of the Gates Foundation, said in a message to foundation employees.Read more: <a href="https://www.businessinsider.com/bill-gates-melinda-divorce-affairs-bully-womanizer-2021-6">Insiders say Bill Gates was an office bully who pursued sexual affairs, and that his squeaky-clean image was merely good PR</a>If she steps down, Bill would provide Melinda with "personal resources" for her philanthropic work with the foundation, per Suzman. <a href="https://www.nytimes.com/2021/07/07/business/gates-foundation-divorce.html?smtyp=cur&amp;smid=tw-nytimesimes">The New York Times</a> first reported the <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> on Wednesday.Bill and <keyword id="131379" type="PERSON" weightage="60" keywordseo="Melinda-Gates">Melinda Gates</keyword>, who married in 1994, have a combined <a href="https://www.businessinsider.com/bill-and-melinda-gates-marriage-2017-11">net worth</a> of $130.5 billion. The two did not sign a prenuptial agreement, but Bill has transferred nearly <a href="https://www.businessinsider.com/bill-meinda-gates-divorce-stock-transfers-melinda-french-deere-stock-2021-5">$4 billion worth of shares</a> to Melinda since their divorce announcement.Following the divorce announcement, <a href="https://www.nytimes.com/2021/05/16/business/bill-melinda-gates-divorce-epstein.html">The New York Times</a> reported Bill Gates pursued relationships with <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword> employees while married. An <a href="https://www.businessinsider.com/bill-gates-melinda-divorce-affairs-bully-womanizer-2021-6">Insider investigation</a> found Gates hosted nude pool parties at his property while dating Melinda.

Melinda French Gates can resign from the Gates Foundation in 2 years if she and Bill cannot work together

<ul class="summary-list"><li>A judge signed off on the <keyword id="6355810" type="UNKNOWN" weightage="60" keywordseo="divorce">divorce</keyword> between <keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> and <keyword id="190919" type="PERSON" weightage="60" keywordseo="Melinda-French-Gates">Melinda French Gates</keyword> on Monday. </li><li>The couple announced they were splitting up in May.</li><li>They had been married for 27 years.</li></ul>Bill Gates and Melinda French Gates have officially divorced after a judge finalized their split on Monday, court records showed.The couple, who have three adult children together, <a href="https://www.businessinsider.com/bill-melinda-gates-announce-divorce-end-marriage-2021-5">announced they were divorcing</a> in May after 27 years of marriage, saying they could no longer "grow together." French Gates said in a court filing in May that she <a href="https://www.businessinsider.com/melinda-french-gates-name-bill-gates-divorce-2021-5">would not be changing her name</a>.The final divorce order filed by the court said the two agreed to a "separation contract" that was not filed in the divorce proceedings. The separation contract includes how the two will divide their property, debt, and court fees. Each of the Gates children is 18 or older, therefore the courts did not establish a parenting or child-support plan.French Gates sought divorce lawyers in 2019 after Gates' ties to the convicted sex offender Jeffrey Epstein surfaced, <a href="https://www.wsj.com/articles/melinda-gates-was-meeting-with-divorce-lawyers-since-2019-to-end-marriage-with-bill-gates-11620579924?mod=hp_lead_pos8">The Wall Street Journal</a> reported. The couple secretly got married on <a href="https://archive.seattletimes.com/archive/?date=19940102&amp;slug=18876587658">January 1, 1994</a>, in <a href="https://www.cnbc.com/2017/08/03/bill-gates-private-wedding-destination-is-now-open-for-bookings.html">Lanai, Hawaii</a>, with party performances from Willie Nelson and Alice Cooper.In the weeks following the divorce announcement in May, <a href="https://www.businessinsider.com/bill-gates-melinda-divorce-affairs-bully-womanizer-2021-6">Gates was accused in reports of being an office bully who had pursued sexual affairs</a>. He was then seen in July at a "<a href="https://www.businessinsider.com/bill-gates-sun-valley-jeff-bezos-lauren-sanchez-summer-camp-2021-7">billionaire summer camp</a>" in Idaho. Both French Gates and Gates plan to remain cochairs of the Bill &amp; Melinda Gates Foundation, a nonprofit that aims to combat poverty, disease, and inequity around the world. If the pair cannot work together, French Gates can <a href="https://www.businessinsider.com/melinda-french-resign-from-gates-foundation-in-two-years-nyt-2021-7">step down in two years</a>, according to Mark Suzman, the CEO of the Gates Foundation.<iframe src="https://embed.documentcloud.org/documents/21031531-gates-dissolution/?embed=1&amp;responsive=1&amp;title=1;title=1" title="Gates Dissolution (Hosted by DocumentCloud)" width="700" height="905" style="border: 1px solid #aaa; width: 100%; height: 800px; height: calc(100vh - 100px);" sandbox="allow-scripts allow-same-origin allow-popups allow-forms allow-popups-to-escape-sandbox"></iframe>

Bill Gates and Melinda French Gates are officially divorced, according to just-released court documents

<ul class="summary-list"><li><keyword id="45830" type="PERSON" weightage="60" keywordseo="Bill-Gates">Bill Gates</keyword> and <keyword id="190919" type="PERSON" weightage="60" keywordseo="Melinda-French-Gates">Melinda French Gates</keyword> see their foundation as "their fourth child," according to WSJ. </li><li>The <keyword id="102649" type="ORGANIZATION" weightage="60" keywordseo="Gates-Foundation">Gates Foundation</keyword> is committing $2.1 billion to gender equality efforts, the Journal reported. </li><li>The two have said they will remain co-chairs of the foundation despite their May divorce.</li></ul>Bill Gates and Melinda French Gates think of their charitable foundation as another one of their children, according to <a href="https://www.wsj.com/articles/gates-foundation-pledges-2-1-billion-for-gender-equality-11625061602">reporting</a> in The Wall Street Journal. Gates Foundation CEO Mark Suzman told the Journal that the pair, who have three kids together, "view this as, this is their fourth child." Gates and French Gates have put much of their $130 billion fortune towards philanthropic efforts through their foundation.The foundation is committing $2.1 billion over five years to efforts to achieve gender equality, the Journal reported Wednesday. The money will go toward broadening access to birth control, securing training and financial services for women, and propelling women into leadership positions in economics, health, and law, according to the Journal.The announcement tracks with French Gates' prior advocacy on women's issues. The philanthropist previously <a href="https://www.businessinsider.com/melinda-gates-pledges-1-billion-gender-equality-priorites-2019-10">pledged $1 billion</a> towards gender equality initiatives in 2019. The <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword> cofounder and French Gates intend to remain co-chairs of their foundation despite <a href="https://www.businessinsider.com/bill-melinda-gates-announce-divorce-end-marriage-2021-5">divorcing in May</a> after 27 years of marriage."After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage," Gates and French Gates said at the time. "Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives. We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives."Weeks after the two announced their split, Berkshire Hathaway CEO Warren Buffett <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-resigns-gates-foundation-trustee-hits-giving-milestone-2021-6-1030546478">resigned as a trustee</a> of the Gates Foundation. "My goals are 100% in sync with those of the foundation, and my physical participation is in no way needed to achieve these goals," Buffett said in his announcement.

Bill Gates and Melinda French Gates reportedly view their foundation as 'their fourth child'

A very large portion of COVID-19 vaccines are likely to be manufactured in India through the country's strong and robust private sector partners, said Bill and Melinda Gates Foundation CEO Mark Suzman. In an interview to PTI, Suzman noted that India is doing everything it can right now with the resources at hand to fight the COVID-19 pandemic. "I think India is doing everything it can right now with the resources at hand, but we are all hopeful that next year as some of these vaccines should come out...and our expectation is that a very large portion of these are likely to be manufactured in India through the strong and robust Indian private sector partners and then that will be the key area to focus on in the next phase of the COVID pandemic, he said. He underlined the need to have equitable global distribution of COVID-19 vaccines. "We believe passionately that there needs to be equitable global distribution, so everything we are doing is to make sure that the developing countries will be able to have access at the same time and at the same volumes as wealthy countries, because for a global pandemic that is essential, but then the exact pacing and distribution within the countries is going to depend on national guidelines with some of the global recommendations," he said. He said the Bill and Melinda Gates foundation has been working at multiple levels to combat COVID-19. "We have been providing support, so called upstream, or research and development. We work with this organization, CEPI, the Coalition for Epidemic Preparedness Innovation, which has been a leading partner in investing in the potential vaccines. We have developed something called a therapeutic accelerator which has raised over USD 125 million to help find treatments that are going to be effective against COVID, he said. He said the foundation has been working to support a lot of work around diagnostics as well. "And in that context, we are strong supporters of this global effort, which India is part of, called COVAX, which is a multilateral initiative to procure vaccines at scale and then distribute them through the GAVI vaccine alliance to countries including India," Suzman added. And last but not least, we have also been directly supporting some specific investments, again some with Indian partners like Serum Institute of India and GAVI around particular vaccines which are very promising in order to make sure many of the products are being manufactured in real time and even ahead of regulatory approval for potential distribution because we want to make sure that the distribution goes to developing countries at the same time as rich countries, that you don't have the time lag with rich countries having bought up early available market, which have been the risk, he said. He said the biggest learning from the pandemic is that at all levels, global, regional, national, there needs to be a permanent infrastructure in place that is prepared and ready to go which will keep the world much better prepared for the next one, which will come. "It is not as if the pandemic was really that much of a surprise, maybe the scale, the speed and the exact nature of the pathogen could not have been predicted but as <keyword id="45830" type="PERSON" weightage="20" keywordseo="Bill-Gates">Bill Gates</keyword> and others have been warning for years, this has been one of the most likely global crises, he said. But we know that unknown pathogens have the potential to come in and wreak havoc so we should never again be caught flat footed. We need a global infrastructure, regional infrastructure and national infrastructure and right down to the community health level, he added. Responding to a question on how the Grand Challenges platform is relevant for the current pandemic situation, he said some of the networks and groups of scientists that joined the Grand Challenges are working hard on many aspects of COVID-19. They also provided the platform that looks at related issues which is empowering scientific leadership in developing countries, particularly women, to think about what the long-term issues of the future are going to be or the present and the future, including but beyond COVID-19, he said. Grand Challenges India was set up as a partnership of the Department of Biotechnology, Government of India, and the Bill &amp; Melinda Gates Foundation in 2012, and Wellcome also joined the partnership. Grand Challenges India works across a range of health and developmental priorities ranging from agriculture, nutrition, sanitation, maternal and child health to infectious diseases. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/why-saif-partners-rebranded-itself-to-elevation-capital/articleshow/78784029.cms">INTERVIEW: Here’s why one of India’s most successful VC firms rebranded itself in the middle of a pandemic</a>

India is likely to produce a very large portion of COVID-19 vaccine, says Gates Foundation CEO

<img src="https://static-ssl.businessinsider.com/image/5de9634bfd9db207ed1653b5-2400/gettyimages-850251558.jpg" alt="Susan Desmond-Hellmann" />Gates FoundationSusan Desmond-Hellmann is stepping down as Gates Foundation CEO.<ul class="summary-list"><li>Bill &amp; Melinda Gates Foundation CEO Susan Desmond-Hellmann is stepping down, the nonprofit said Thursday, after concluding "she could not adequately meet the demands of the position while caring for her own health and the needs of her family."</li><li>A longtime insider, Mark Suzman, will take over her role February 1.</li><li>Desmond-Hellmann has been CEO since 2014 and helped the foundation launch its research arm, the Gates Medical Research Institute, and expanded its work to examine poverty and economic mobility in the US.</li><li>She also led the foundation through challenging times, including a lawsuit that provided a rare window into its operations.</li><li>The Gates Foundation had given more than $50 billion in grants as of the end of 2018.</li><li><a href="https://www.businessinsider.com/prime">Click here to read more BI Prime stories</a></li></ul>The head of Bill and Melinda Gates' multi-billion-dollar nonprofit is stepping down.Susan Desmond-Hellmann, an oncologist who became the Bill &amp; Melinda Gates Foundation's CEO in 2014, concluded "she could not adequately meet the demands of the position while caring for her own health and the needs of her family," the <a href="https://www.gatesfoundation.org/who-we-are/general-information/foundation-factsheet">nonprofit announced Thursday</a>."This was without doubt the toughest decision of my career," Desmond-Hellmann said in a prepared statement. "But I felt I could no longer be the CEO the foundation needs and deserves at this vital time."Mark Suzman, the current chief strategy officer and president of global policy and advocacy, will take over Desmond-Hellmann's role on February 1. Suzman has worked for the organization for 12 years.As of the end of 2018, the Gates Foundation had given more than $50 billion in grants since it founded was in 2000 by Bill and Melinda Gates, who remain co-chairs and trustees of the organization. Berkshire Hathaway CEO Warren Buffett is a trustee and William H. Gates Sr., father of the Microsoft cofounder, is also a co-chair.<h2>Desmond-Hellmann's tenure</h2>Desmond-Hellmann was the foundation's third CEO, following former Microsoft executives Jeff Raikes and Patty Stonesifer. She joined the nonprofit after serving as chancellor of the University of California at San Francisco, the first woman to ever hold the position, and spent 14 years before that at San Francisco-based biotech Genentech working on gene therapies for cancer."Sue brought an incredible set of attributes to the foundation: scientific expertise, tested leadership skills, a passion for building a strong internal culture, and, above all, a dedication to the mission of making the world a healthier, more equal place," Melinda Gates said in a prepared statement.Desmond-Hellmann's leadership, Bill Gates said in the statement, helped the foundation launch its research arm, the Gates Medical Research Institute, and expanded its work to examine poverty and economic mobility in the U.S.<h2><img src="https://static-ssl.businessinsider.com/image/5de97217fd9db21917134af3-1963/bill and melinda gates.jpg" alt="Bill and Melinda Gates" style="font-size: 15px;" />Handout/Getty ImagesBill and Melinda Gates.</h2><h2>Challenging times</h2>A lawsuit filed against the Gates Foundation in 2017 provided a rare window inside the organization with Desmond-Hellman at the helm.Todd Pierce, a former Salesforce executive who was fired from his job as the foundation's chief digital officer, sued the foundation, alleging he was misled about his role. The lawsuit alleged disfunction in the organization, including a lack of communication in the recruiting process and "disarray of the existing technology at the Gates Foundation."<a href="https://www.geekwire.com/2018/judge-sides-ex-bill-melinda-gates-foundation-exec-lawsuit-organization/">A judge sided with Pierce</a>, awarding in late 2018 nearly $5 million to compensate Pierce for the stock options and salary he left on the table at Salesforce to take the job at Gates Foundation. The foundation said it disagreed with the decision and planned to appeal, but it does not appear an appeal has been filed.<h2>The new CEO</h2>Suzman, Desmond-Hellmann's successor, is a 12-year veteran of the foundation who oversees its government relations, partnerships, and strategic communications and has helped it expand in Europe, Africa, and Asia. He's originally from South Africa and held various roles at the United Nations prior to joining the Gates Foundation."Mark has been a trusted advisor across our programs and partners," Bill Gates said in a prepared statement. "As we conclude our foundation's second decade of work in global health and education, I have never been more optimistic about the opportunity to improve life for the world's poorest. I look forward to partnering with Mark on the work ahead."<a href="https://www.businessinsider.com/intelligence/bi-intelligence-daily?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_subscription&amp;itm_content=microsoft&amp;itm_campaign=bi-intelligence-daily"><img src="https://static.businessinsider.com/image/5dc428a57eece546b8629657" alt="Signup Today: Free Daily Newsletter from Business Insider Intelligence" style="width: 100% !important" /></a> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-jay-z-and-diddy-made-millions-off-of-cheap-alcohol-zack-omalley-greenburg-2018-3">How Jay-Z and Diddy used their fame to make millions off of 'cheap grapes'</a></h3> <iframe class="bijwplayerclass" src="https://content.jwplatform.com/players/qhWHAjCo-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;"></iframe>

The CEO of Bill and Melinda Gates' multi-billion-dollar nonprofit is stepping down

<ul class="summary-list"><li><keyword id="47008" type="COMPANY" weightage="60" keywordseo="Eli-Lilly">Eli Lilly</keyword>, the US drugmaker, said it is partnering with the Bill &amp; Melinda Gates Foundation to supply its <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> antibody <keyword id="32462" type="PERSON" weightage="60" keywordseo="therapy">therapy</keyword> to low- and middle-income countries.</li><li>The announcement came moments before US President Donald <keyword id="6354862" type="UNKNOWN" weightage="60" keywordseo="trump">Trump</keyword> said he would approve Eli Lilly's antibody treatment in the US.</li><li>Eli Lilly is seeking an emergency use authorization from the Food and Drug Administration (FDA).</li><li>The company said that it would aim to distribute the therapy to low-income countries before April 2021, depending on when the drug was approved in different nations.</li></ul>Drugmaker Eli Lilly has announced that it has partnered with the Bill &amp; Melinda Gates Foundation to supply its COVID-19 antibody therapy to low- and middle-income countries.The agreement is part of the <a href="https://www.businessinsider.com/gates-foundation-wellcome-mastercard-commit-125-million-to-covid-19-drugs-2020-3">COVID-19 Therapeutics Accelerator</a>, an initiative launched by the Gates Foundation, Mastercard, and Wellcome to accelerate the development of and access to treatment of <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword>.Eli Lilly said that commercial manufacturing of its treatment will commence in April 2021 in Denmark. Lilly also said it will make some of its antibody therapy available to lower-income countries before then, depending on when its treatment is authorized in different nations. Any drugs provided earlier than 2021 would be made outside of Denmark, it said in a <a href="https://www.prnewswire.com/news-releases/lilly-announces-arrangement-for-supply-of-potential-covid-19-antibody-therapy-for-low--and-middle-income-countries-301148217.html">statement released on Thursday morning</a>.The announcement came moments before US President Donald Trump said he would approve Eli Lilly's antibody treatment in the US. The drug company has submitted an emergency use authorization application to the Food and Drug Administration (FDA).President Donald Trump received <a href="https://www.businessinsider.com/drug-that-trump-called-a-cure-submitted-fda-approval-application-2020-10">other antibody therapies</a> while in hospital with COVID-19.Mark Suzman, CEO of the Bill &amp; Melinda Gates Foundation said: "To help end the COVID-19 <keyword id="43587" type="ORGANIZATION" weightage="60" keywordseo="pandemic">pandemic</keyword> it is vital that people, no matter where they live or their ability to pay, can access effective therapeutics."Coronavirus has killed more than one million people worldwide, and cases of the infection, which currently stand at more than 36.2 million, are resurging in certain parts of the world, including Europe and the US.

You Searched For "Mark Suzman" and got 8 results

Warren Buffett warned the Bill & Melinda Gates Foundation's CEO about the 'ABCs.' The investor has flagged those threats before

Theron Mohamed

Bill and Melinda Gates might shake up their charity to protect it after their divorce, which could include bringing in outside directors, according to a report

Grace Dean

Melinda French Gates can resign from the Gates Foundation in 2 years if she and Bill cannot work together

Allana Akhtar

Bill Gates and Melinda French Gates are officially divorced, according to just-released court documents

Kelly McLaughlin

Bill Gates and Melinda French Gates reportedly view their foundation as 'their fourth child'

Sarah Jackson

India is likely to produce a very large portion of COVID-19 vaccine, says Gates Foundation CEO

PTI

The CEO of Bill and Melinda Gates' multi-billion-dollar nonprofit is stepping down

Ashley Stewart

A top US drugmaker is teaming up with the Gates Foundation to get a promising new coronavirus treatment to low-income countries before April 2021

Kate Duffy