Costco Wholesale said Friday that William H. Gates Sr. is voluntarily leaving his director seat on the company’s board in January, a role he has held for 11 years.
Gates, a prominent attorney and philanthropist, helps direct the Bill & Melinda Gates Foundation, an institution funded by the fortune amassed by his son, Microsoft co-founder Bill Gates.
The elder Gates, who is 89, tendered his resignation in a letter sent to Costco’s board Wednesday. “The voluntary resignation is not due to any disagreement with the company,” Costco said in a securities filing issued Friday. “The company and its board of directors express their deepest gratitude to Mr. Gates for his more than 11 years of dedicated service.”
Gates will remain a director until after Costco’s annual shareholder meeting Jan. 29 closes, the filing said.
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A spokeswoman for the foundation said that Gates remains fully “engaged and active in his co-chair role” there.