Longtime Microsoft executive Jeff Raikes will succeed Patty Stonesifer as the next chief executive of the Bill and Melinda Gates Foundation, the world’s largest philanthropic organization which donates billions in grant money each year to fight global poverty, malaria and HIV/AIDS, The Seattle Times reports (seattletimes.nwsource.com).

“Joining the Gates foundation is an honor and a once-in-a-lifetime opportunity to focus on improving the lives of others,” Raikes told The Seattle Times. “I am thrilled to join Bill and Melinda and this team because I’m convinced that through strong partnerships, ambitious goals, and a commitment to impact, we can transform people’s lives.”

According to the article, Raikes was chosen from about 150 potential candidates from the political, academic and business fields.