(Gates Foundation Press Release Dated March 31, 2010) The Bill and Melinda Gates Foundation, one of the largest private foundations in the world, recently appointed a new CFO.
With a fervent belief that “all lives have equal value,” the Gates Foundation funds grants in all fifty states and the District of Columbia as well as over 100 countries. Total grant payments in 2009 amounted to $3.0 billion. Grants are awarded to benefit global development, global health, and the United States Program. Along with its partners, the Gates Foundation has agreed to $22.61 billion in grants since its inception.
Beginning April 19, Merck executive Richard Henriques will be the new CFO for the Gates Foundation. He is replacing Alexander Friedman, who left the Gates Foundation to pursue a private investment firm. Mr. Henriques is enthusiastically involved in nonprofit organizations in the Philadelphia area, serving on the boards of many. He spent his undergraduate years at the University of Pennsylvania, where he earned a bachelor’s degree in oriental studies. Mr. Henriques then earned a master’s degree from the Wharton School of Business. At Merck, Mr. Henriques was vice president of finance and corporate controller; he had been working there since 2006. Gates Foundation CEO Jeff Raikes said of the new appointment, “Richard brings great depth and experience to the foundation, which will be integral as we continue to manage our growth and assess our progress.” Mr. Henriques will be stationed at the headquarters of the Gates Foundation in Seattle, Washington.