Gates Foundation taps Microsoft exec Raikes as CEO

SEATTLE, May 12 (Reuters) - The Bill & Melinda Gates Foundation said on Monday that Jeff Raikes, a senior Microsoft Corp (MSFT.O: Quote, Profile, Research) executive, will be the next chief executive of the world's largest charitable organization.

Raikes who spent over 25 years at Microsoft and built the company's Office software division into a $16 billion business, will replace outgoing CEO Patty Stonesifer, also a former Microsoft executive.

Raikes announced his retirement from Microsoft in January. He will be reunited with his former boss at Microsoft, company founder Bill Gates, who will be shifting to work full-time at the foundation instead of Microsoft in July. (Reporting by Daisuke Wakabayashi, editing by Gerald E. McCormick)