Warren Buffett is stepping down from the board of the Bill and Melinda Gates Foundation, he said Wednesday. The Berkshire Hathaway chairman's move comes during a period of uncertainty for philanthropic organization, after the Gateses announced last month that they are divorcing.
"For years I have been a trustee -- an inactive trustee at that -- of only one recipient of my funds, the Bill & Melinda Gates Foundation. I am now resigning from that post, just as I have done at all corporate boards other than Berkshire's," Buffett said in a statement.
The 90-year-old billionaire praised foundation CEO Mark Suzman and said his goals remained "100% in sync with those of the foundation," but noted that his physical participation isn't needed to achieve them.
In a statement, Melinda Gates expressed gratitude for Buffett's generosity and leadership, saying "the things we've learned from him will continue to help us chart a way forward." Bill Gates added that Buffett "will continue to inspire our foundation as we work to fight poverty and help millions of people live healthier lives."