Bill & Melinda Gates Foundation names new CEO

The Bill & Melinda Gates Foundation said on Tuesday its new chief executive would be Susan Desmond-Hellmann, who will take up the post from May 1.

Ms Desmond-Hellmann is currently the chancellor of the University of California, San Francisco.

The world's largest private philanthropy organisation, with a $40-billion endowment, has been looking for a new CEO since September, when Jeff Raikes announced his retirement.

Bill Gates, the co-founder of Microsoft Corp, and his wife Melinda are co-chairs of the foundation, as is Mr Gates' father.

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