Bill Gates

Bill Gates steps down from Microsoft board

Microsoft on Friday (local time) announced that its co-founder Bill Gates has stepped down from the company’s board of directors to dedicate more time to his philanthropic priorities including global health and education.

Gates will, however, continue to serve as the technology advisor to Microsoft CEO Satya Nadella.

Bill Gates
The memorable Bill Gates

“Microsoft Corp today announced that co-founder and technology advisor Bill Gates stepped down from the company’s board of directors to dedicate more time to his philanthropic priorities including global health, development, education, and his increasing engagement in tackling climate change. He will continue to serve as Technology Advisor to CEO Satya Nadella and other leaders in the company,” the company said in the statement.

Gates co-founded Microsoft with Paul Allen in 1975. Gates was CEO of the company until 2000.

In 2008, Gates transitioned out of a day-to-day role in the company to spend more time on his work at the Bill and Melinda Gates Foundation.

With Gates’s departure, the board will consist of 12 members including John W Thompson, Microsoft independent chair, Reid Hoffman, partner at Greylock Partners, Hugh Johnston, vice chairman and chief financial officer of PepsiCo, Teri L List-Stoll, executive vice president and chief financial officer of Gap, Inc, Satya Nadella, CEO of Microsoft.

Nadella said that it was a tremendous honour and privilege to have worked with Gates.

“It’s been a tremendous honour and privilege to have worked with and learned from Bill over the years. Bill founded our company with a belief in the democratizing force of software and a passion to solve society’s most pressing challenges. And Microsoft and the world are better for it,” the statement quoted him.

“The board has benefited from Bill’s leadership and vision. Microsoft will continue to benefit from Bill’s ongoing technical passion and advice to drive our products and services forward. I am grateful for Bill’s friendship and look forward to continuing to work alongside him to realise our mission to empower every person and every organization on the planet to achieve more,” he said.

 

Gates, Wellcome and Mastercard launch $125 million fund to finance COVID-19 treatments

The Bill & Melinda Gates Foundation, Wellcome and Mastercard announced a new initiative yesterday to accelerate technologies designed to identify, assess, develop and scale treatments to the COVID-19 epidemic. The COVID-19 Therapeutics Accelerator will evaluate new and repurposed drugs and biologics to treat patients with COVID-19 in the immediate term, and other viral pathogens in the future, according to a statement from the Gates Foundation.
As part of the initiative, the three partners committed to “equitable access, including making products available and affordable in low-resource settings.”
That’s an issue right now as healthcare systems struggle with access to testing kits and potentially high-cost therapeutics developed by private industry. The government agencies tasked with responding to the outbreak apparently lack the resources to engage in such an initiative and are relying on the private sector to help.
The immediate goal for the new accelerator is to catalyze the evaluation and development of new and repurposed drugs and biologics to treat patients with COVID-19.
Right now, there aren’t any broad-spectrum antivirals or immunotherapies available to combat the spread of emerging pathogens — and certainly none approved for use on COVID-19, according to the Gates Foundation statement.The Great Man - Bill Gates
Gates and Wellcome, a nonprofit foundation, are each contributing up to $50 million to the accelerator, with the Gates Foundation money pulled from its $100 million commitment to finance a COVID-19 response made in February. “Viruses like COVID-19 spread rapidly, but the development of vaccines and treatments to stop them moves slowly,” said Mark Suzman, chief executive officer of the Bill & Melinda Gates Foundation, in a statement. “If we want to make the world safe from outbreaks like COVID-19, particularly for those most vulnerable, then we need to find a way to make research and development move faster. That requires governments, private enterprise, and philanthropic organizations to act quickly to fund R&D.”
The new accelerator will work with the World Health Organization, government and private sector funders and other organizations, along with regulators and policy-setting institutions, according to a statement, and will focus on everything from drug pipeline development through manufacturing and expanding production and distribution.
For the Gates Foundation, the cross-disciplinary approach was one of the lessons learned from its approach to containing the Ebola outbreak in 2014.
According to a statement from the foundation, the accelerator will operate as a joint initiative of the funders and will pursue three different strategies. It will identify compounds and potential novel therapies, work with industry partners and coordinate with regulators to get treatments into market.
“This virus is an unprecedented global threat, and one for which we must propel international partnerships to develop treatments, rapid diagnostics, and vaccines. Science is moving at a phenomenal pace against COVID-19, but to get ahead of this epidemic we need greater investment and to ensure research co-ordination,” said Dr. Jeremy Farrar, director of Wellcome, in a statement. “The Therapeutics Accelerator will allow us to do this for potential treatments with support for research, development, assessment, and manufacturing. COVID-19 is an extremely challenging virus, but we’ve proved that through collaborating across borders we can tackle emerging infectious diseases.”

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