On Monday, the President of Ford Foundation, Darren Walker announced the decision to step down from the top role after 12 years of service.
Speaking to the New York Times, the 64-year-old philanthropist disclosed he would be quitting his position as the company's boss at the end of 2025.
According to Walker, it was significant to have a change of the guard. He revealed he had begun discussing his departure with the board two years ago.
“Philanthropy as a field needs new leaders and a constant refreshing because as a sector we can be self-satisfied and lose the edge to our work,” Walker told the New York Times.
“Some people stay in foundation jobs too long because it’s intoxicating every day to be in a position where people are deferential,” he added.
Ford Foundation board chair Francisco Cigarroa while commenting on the matter disclosed a search committee had already been convened to find Walker's replacement.
"Walker has guided Ford through some of the most challenging moments of our time with grace, kindness, and empathy, and his tenure will be remembered as one of the most consequential periods in the institution’s nearly 90-year history,” Cigarroa stated.
During Walker's tenure, Ford increased grants to organizations in communities including grants to help women and girls across the globe.
His decision to step down as the head of the Foundation comes amidst allegations of sponsoring the recent unrest witnessed in Kenya.
In a letter directed to Darren Walker, President William Ruto's administration accused the Ford Foundation of funding about 16 Non-governmental organisations to fuel anarchy in the country.
However, in its response, the Ford Foundation refuted the allegations, stating that its key role in Kenya was providing charity to different sectors of the country’s economy.
According to the Foundation, all the information about its operations in Kenya was transparently available on its website.
