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Nebraskan Jeff Raikes new CEO to replace Patty Stonesifer at Bill & Melinda Gates Foundation

By Amarendra Bhushan for CEOWORLD Magazine Updated:September 2, 2008

The Bill & Melinda Gates Foundation (Seattle-based foundation with a $37.3 billion endowment and more than 500 employees) has selected Jeff Raikes as the next CEO of the foundation. Raikes, former president of the Microsoft Business Division, will assume the role presently held by Patty Stonesifer on Sept. 2, 2008. “Bill and I considered many extraordinary candidates from around the world during the search for our foundation’s new CEO, Jeff brings more than 25 years of experience in the private sector and has earned a reputation as a trusted and respected leader, ” said Melinda Gates, foundation co-chair.

“Joining the Gates Foundation is an honor and a once-in-a-lifetime opportunity to focus on improving the lives of others,” said Raikes. “I’ve known and admired Jeff for more than 25 years, He’s a smart, independent thinker who’s passionate about using innovation to help people change their lives. I’m excited to be working with him again,” said foundation co-chair Bill Gates. In February 2008, Stonesifer announced her plan to transition from her current position as CEO. She was the foundation’s first CEO, joining after a long career in technology that included eight years as a Microsoft executive.

Through the Raikes Family Foundation, Raikes and his wife, Tricia, have focused on education for underrepresented minorities. The foundation had more than $112 million in assets at the end of 2005, according to tax records. The couple chaired United Way of King County’s fundraising drive for 2006-2007.

Forbes estimated Raikes’ net worth at about $490 million. That includes more than 5 million Microsoft shares, according to a 2007 filing with the Securities and Exchange Commission. Those shares are now worth about $157 million. A graduate of Stanford University, Raikes created an undergraduate scholarship fund there to support students from rural and inner-city schools. He is also a trustee of the University of Nebraska Foundation.

Jeff Raikes Profile

Raikes is member of the Microsoft’s senior leadership team that sets overall strategy and direction for Microsoft. Most recently, Raikes was the President of the Microsoft Business Division and oversaw the Information Worker, Server & Tools Business and Microsoft Business Solutions Groups. He previously served as group vice president of the Worldwide Sales and Support Group, where he was responsible for providing strategic leadership for Microsoft’s sales, marketing and service initiatives. Before that, he served as senior vice president of Microsoft North America, a position he had held since 1993.

Raikes joined Microsoft in 1981 as a product manager and was instrumental in driving Microsoft’s applications marketing strategy. Promoted to director of Applications Marketing in 1984, he was the chief strategist behind Microsoft’s success in graphical applications for the Apple Macintosh and the Microsoft Windows operating system. In this role, he drove the product strategy and design of Microsoft Office, the leading business productivity suite. Raikes was promoted to vice president of Office Systems, where he was responsible for development and marketing of word processing, workgroup applications and pen computing. Before joining Microsoft, he was a software development manager at Apple Computer Inc.

For contributions to the software industry in the development and marketing of Microsoft Office, and in developing opportunities for channel partners through Microsoft’s Solution Provider Program and other innovative efforts, Raikes was inducted in November 2003 into Computer Reseller News Magazine’s Computer Industry Hall of Fame.

Raikes holds a Bachelor of Science degree in Engineering-Economic Systems (EES) from Stanford University. He served on the board of directors of the Software Publishers Association from 1987 to 1993 and twice served as chairman of the board. Raikes also served on the board of the Washington Technology Center.

A native of Nebraska, Raikes is a trustee of the University of Nebraska Foundation. He is involved with numerous community activities, focusing on education and children’s issues. As part of a community effort to preserve Major League Baseball in the Pacific Northwest, he joined with other Seattle business leaders in 1992 to purchase the Seattle Mariners baseball club.

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