“Given that founders receive a substantial tax benefit for their donations, the assets the board oversees should be regarded as belonging to the public, with the board being held accountable to a fiduciary standard of care,” wrote Alex Friedman, the former chief financial officer, and Julie Sunderland, the former director of the foundation’s Strategic Investment Fund.

The Gates Foundation is trying to fight Covid-19, eradicate polio and reshape the struggle for gender equality, even as its two co-chairs extricate themselves from a 27-year marriage. The foundation has more than 1,700 employees and makes grants in countries around the world. Since 2000, the foundation has made grants totaling more than $55 billion, much of it from Mr. Gates and Ms. French Gates, but tens of billions also came from Mr. Buffett, the chief executive of Berkshire Hathaway.

Yet, in significant ways, the future of such an influential institution, one that touches the lives of millions of people through its grant recipients, is being decided in a separation agreement between two billionaires.

Mr. Buffett’s announcement last month that he was stepping down as the third trustee of the foundation made clear that the divorce had set significant changes in motion. Mr. Suzman promised at the time that governance changes would be announced this month, with many observers anticipating that a new slate of independent trustees would be revealed.

Details on what that might look like remained few on Wednesday, with neither names of candidates for the board of trustees nor even the ultimate number of new trustees released. Mr. Gates and Ms. French Gates will approve changes to the foundation’s governance structures by the end of the year and the new trustees will be announced in January, according to the statement.

At the center of the impending changes stands Mr. Suzman, a 14-year veteran of the Gates Foundation, who was named chief executive just as the spread of Covid-19 in the United States was becoming apparent. Born in South Africa, the Harvard- and Oxford-educated Mr. Suzman served as a correspondent for The Financial Times in London, South Africa and Washington before going to work at the United Nations. He joined the foundation in 2007 to work on global development policy before claiming the top post last year.

Mr. Suzman said in an interview that he had heard that Mr. Gates and Ms. French Gates would be divorcing only about 24 hours before the news was announced. He said they had started talking about possible governance changes “almost right away” after that.

He said he was in regular contact with both. “I’m having three-way conversations with them,” Mr. Suzman said. “We’re having regular three-way email exchanges and other discussions.”

He noted that the hands-on leadership of Mr. Gates and Ms. French Gates meant the changes will take some time to enact.

“The degree and depth of engagement of our co-chairs and trustees goes significantly beyond what a traditional board does and how it does it,” he said in the interview. “So we’ll need some time to think through how we balance that with the people we bring on board.”

Mr. Suzman will work with Connie Collingsworth, the foundation’s chief operating officer and chief legal officer, to handle the process. The final decisions on both the new trustees and the changes to the foundation’s governance documents will be made by Mr. Gates and Ms. French Gates. It is a reminder that, at least for now, power remains concentrated in the former couple.

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