George Soros' Open Society Foundations name new president after years of layoffs and transition

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George Soros’ Open Society Foundations announced a leadership change Monday with its president Mark Malloch-Brown stepping down in June

NEW YORK — George Soros' Open Society Foundations announced a leadership change Monday with its president Mark Malloch-Brown stepping down in June, set to be replaced by a senior leader, Binaifer Nowrojee. She will be the first woman from the global south to lead OSF.

Soros, the billionaire investor, said in a statement that when he started the foundations decades ago, he hoped its work would be global in scope.

“At the outset, that was merely an aspiration. But now I feel that this ambition has been fulfilled" with Nowrojee's appointment as president, Soros said.

Most recently, Nowrojee, who is Kenyan from an Indian family, was OSF's vice president of programs and part of a small senior leadership team overseeing a large transition that started in 2021. Last summer, the foundations announced that Alex Soros, one of George Soros' sons, had taken over as chair of its board in December 2022.

Along with that generational change in leadership, OSF said it would layoff as much as 40% of its staff worldwide and move to a new operating model. Those layoffs followed an earlier round of buyouts and restructuring in 2021. OSF also said in July last year it was limiting new grantmaking for at least six months, until February 2024. OSF reported more than $25 billion in assets and made $1.3 billion in charitable donations in 2022.

At the time, Alex Soros told The Wall Street Journal that he was “more political” than his father and that he intended to fund political issues in the U.S. An OSF spokesperson said Alex Soros was speaking in his personal capacity and not about the direction of the