financetom
Business
financetom
/
Business
/
Sam Altman will return to OpenAI's board along with three new directors
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Sam Altman will return to OpenAI's board along with three new directors
Mar 8, 2024 7:00 PM

(Reuters) -OpenAI Chief Executive Sam Altman will return to the ChatGPT-maker's board along with three new directors, the world's most prominent artificial intelligence company said on Friday.

An investigation into the events surrounding the November firing of Altman also has concluded, and the company has created new governance rules including strengthening its conflict of interest policy.

Employees, investors and OpenAI's biggest financial backer, Microsoft, had expressed shock over Altman's ouster, which was reversed within days.

The company appointed new directors including Altman, Sue Desmond-Hellmann, a former CEO of the Bill and Melinda Gates Foundation, Nicole Seligman, a former president of Sony Entertainment, and Fidji Simo, CEO of Instacart.

The investigation by law firm WilmerHale found that a breakdown in trust between the board and Altman led to his firing. Altman's dismissal was not the result of concerns related to OpenAI's finances, product safety or other issues, WilmerHale determined.

"WilmerHale found that the prior Board believed at the time that its actions would mitigate internal management challenges and did not anticipate that its actions would destabilize the Company," OpenAI said in a blogpost.

The board's lack of detail for its surprise November decision fueled speculation about potential misconduct by Altman, which he and the company have denied, and about supposed existential risks from the technology that OpenAI is building.

Altman's return as CEO about four days after his firing came after nearly all of OpenAI's employees threatened to depart unless the board restored Altman and resigned.

His return led to discussions about how OpenAI would be governed, and the company announced a reconstituted board that did not include Altman. It was helmed by Silicon Valley entrepreneur Bret Taylor.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Finance industry bodies call for changes to crypto rules for banks
Finance industry bodies call for changes to crypto rules for banks
Aug 20, 2025
(Reuters) -A group of finance industry bodies is calling for a rethink on looming regulatory standards that they say will make it difficult for banks to participate in crypto markets. The Basel Committee on Banking Supervision, which comprises regulators and central banks from the world's main financial centres, agreed a set of standards in 2022 for how banks should manage...
ESGold Up After Signing MOU for High-Grade Tailings Project in Colombia
ESGold Up After Signing MOU for High-Grade Tailings Project in Colombia
Aug 20, 2025
02:21 PM EDT, 08/20/2025 (MT Newswires) -- ESGold ( ESAUF ) shares rose 10% on Wednesday after it entered into a binding memorandum of understanding (MOU) with Planta Magdalena S.A.S., a Colombian corporation, to form a joint venture for the development and reprocessing of fully permitted, gold-and silver-bearing tailings in the Department of Bolivar, Colombia. The company said it will...
Google Launches Lineup of Pixel 10 Smartphones
Google Launches Lineup of Pixel 10 Smartphones
Aug 20, 2025
02:27 PM EDT, 08/20/2025 (MT Newswires) -- Alphabet's (GOOGL, GOOG) Google ( GOOG ) said Wednesday it introduced a new set of products under its Pixel lineup, which includes the Pixel 10 smartphones, smartwatches and earbuds. The 10th generation of Pixel smartphones feature the company's all-new Google Tensor G5 chip and the newest Gemini Nano model. Google ( GOOG )...
Update: James Hardie Industries Shares Fall After Lower Fiscal Q1 Results
Update: James Hardie Industries Shares Fall After Lower Fiscal Q1 Results
Aug 20, 2025
02:30 PM EDT, 08/20/2025 (MT Newswires) -- (Updates with recent stock movement in the first paragraph and headline.) James Hardie Industries ( JHIUF ) shares were down nearly 36% in recent Wednesday trading after the company reported late Tuesday lower fiscal Q1 results that fell short of analyst expectations. The company reported fiscal Q1 adjusted earnings of $0.29 per diluted...
Copyright 2023-2026 - www.financetom.com All Rights Reserved