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The Business of Giving

Exploring philanthropy, non-profits and socially motivated business, from the Gates Foundation to your donation. A fresh look at the economy of good intentions.

March 31, 2010 at 3:35 PM

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Gates Foundation names Merck veteran as new CFO

Posted by Kristi Heim

Richard Henriques, senior vice president of finance at Merck, was named chief financial officer at the Bill & Melinda Gates Foundation today.

Henriques starts work April 19 in Seattle, overseeing financial planning, impact assessment and the foundation's program-related investments. The foundation has 818 employees and made $3 billion in grants last year.

He replaces Alexander Friedman, a former investment banker who left the foundation earlier this year to return to the private sector.

Henriques has been with Merck for 27 years, according to his online profile. He worked in a number of financial positions, from an analyst in its manufacturing division to corporate controller. His work involved strategy, productivity improvements and cost savings as he managed the pharmaceutical giant's resources across 30 brands and 100 countries.

He earned an MBA from Wharton in 1981 and has served on the boards of three non-profits in Philadelphia over the last year.

His depth of experience "will be integral as we continue to manage our growth and assess our progress," Gates Foundation CEO Jeff Raikes said in a statement. "His leadership will be critical as we look for new opportunities to maximize the impact of our work around the world."

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