President of George Soros’s Foundation Leaves After Son Takes Helm
https://www.wsj.com/us-news/george-soros-foundation-president-leaves-after-son-takes-helm-3a731e45
The president of George Soros’s $25 billion nonprofit is stepping down, the latest change since the legendary investor and philanthropist’s son took over the foundation.
The Open Society Foundations said Monday that Binaifer Nowrojee will be its next president when Mark Malloch-Brown steps down from the role in June. Nowrojee has led the organization’s work in parts of Africa and Asia.
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George Soros' Open Society Foundations name new president after years of layoffs and transition
https://www.msn.com/en-us/news/us/george-soros-open-society-foundations-name-new-president-after-years-of-layoffs-and-transition/ar-BB1jHeOh
NEW YORK (AP) — George Soros' Open Society Foundations announced a leadership change Monday with its president Mark Malloch-Brown stepping down in June, set to be replaced by a senior leader, Binaifer Nowrojee. She will be the first woman from the global south to lead OSF.
Soros, the billionaire investor, said in a statement that when he started the foundations decades ago, he hoped its work would be global in scope.
“At the outset, that was merely an aspiration. But now I feel that this ambition has been fulfilled" with Nowrojee's appointment as president, Soros said.
Most recently, Nowrojee, who is Kenyan from an Indian family, was OSF's vice president of programs and part of a small senior leadership team overseeing a large transition that kicked off last summer when the foundations announced that Alex Soros, one of George Soros' sons, had taken over as chair of its board in December 2022.
Along with that generational change in leadership, OSF said it would layoff as much as 40% of its staff worldwide and move to a new operating model. During the transition, OSF said it was limiting new grantmaking for at least six months, until February 2024. OSF reported more than $25 billion in assets and made $1.3 billion in charitable donations in 2022.
At the time, Alex Soros told The Wall Street Journal that he was “more political” than his father and that he intended to fund political issues in the U.S. An OSF spokesperson said Alex Soros was speaking in his personal capacity and not about the direction of the foundation.