Jeff Raikes steps down as CEO of the Bill & Melinda Gates Foundation

Jeff Raikes announced on Tuesday that he will resign as CEO of the Bill & Melinda Gates Foundation; he will remain in office until his successor has been announced.

Raikes sent an email resignation letter to his superiors and also met with the organization's employees, Bill and Melinda Gates and co-chairs of the organization to announce his decision.

"When Bill and Melinda approached me about this job in May 2008, we discussed a five-year commitment," Raikes said. "I am proud of the work we've all done together in the past five years. We are having an impact on people's lives every single day, and we are set up to keep on having an even bigger impact in the years to come."

Raikes founded his own organization, the Raikes Foundation, and has decided to step down as CEO of the Bill & Melinda Gates Foundation to have more time to develop his own organization. He wrote in his resignation letter that he has learned an immense amount from being at the Bill & Melinda Gates Foundation and will carry that into his life.

"I have learned so much from Bill, Melinda, our grantees and partners and all of you about catalytic philanthropy and specific issues like agriculture and education," Raikes said. "I have also learned from-and been deeply moved by-the people I've met in the field, whether they're Ethiopian farmers trying to grow enough food to feed their children or a teacher in New Orleans helping students make a better future. These lessons will not only inspire me but also serve me day-to-day, because I will continue to invest my time and energy in these areas."

Bill and Melinda thanked Raikes for taking their organization to the next level and wished him well on his journey.

"The foundation is in the best shape that it's ever been in thanks to Jeff," Bill said. "He has successfully managed the organization through a period of significant growth, built a phenomenal leadership team, and set us on a great path programmatically. Thanks to Jeff we are at the place now where we will be able to have the impact we want."