George Soros
George Soros

George Soros names new acting president to head his foundation

Billionaire investor George Soros on Monday said a former U.S. ambassador to South Africa will become the new acting president of his global foundation following the departure of Christopher Stone.

Patrick Gaspard, who also was a top aide to President Obama and a national Democratic Party official, will take over the Open Society Foundations at the beginning of 2018. He is currently vice president of the organization.

Soros, a billionaire investor and Hungarian refugee from the Holocaust, founded the global philanthropy network to promote human rights. Soros is a major donor to liberal causes and supported Hillary Clinton in the last election. Soros and Open Society have given away billions of dollars to a network of foundations they sponsor. Open Society focuses on issues as varied as increasing access to medicines, protecting the rights of criminal defendants and advocating for the dignified treatment of migrants.

Stone submitted a resignation letter Monday to Soros, after 5½ years in the top job. His resignation is effective at year’s end. Leonard Benardo, a regional director for the New York-based foundation, will become acting vice president.

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