Sam Altman to return to OpenAI's board with three new directors

Sam Altman's return: OpenAI, the prominent artificial intelligence company behind ChatGPT, announced on Friday that Chief Executive Sam Altman will be reinstated to the board alongside three new directors. The decision comes after an investigation by law firm WilmerHale into the circumstances surrounding Altman's November dismissal.

The investigation concluded, leading to the implementation of new governance regulations and a reinforced conflict of interest policy. The board expressed unanimous support for Altman's leadership, a move backed by employees, investors, and Microsoft, OpenAI's primary financial supporter.

Altman's abrupt removal in November sparked shock and confusion among stakeholders, prompting a swift reversal within days. The investigation clarified that Altman's termination did not stem from concerns regarding OpenAI's financial stability or product safety but rather from a breakdown in the relationship and loss of trust between Altman and the prior Board.

The newly appointed directors include Sue Desmond-Hellmann, former CEO of the Bill and Melinda Gates Foundation, Nicole Seligman, former president of Sony Entertainment and Fidji Simo, CEO of Instacart. Altman welcomed the new additions, stressing on the major tasks ahead.

They will join existing board members Adam D'Angelo, CEO of Quora, former US Treasury Secretary Larry Summers, and Chairman Bret Taylor, former co-CEO of Salesforce.

WilmerHale's investigation found that while the prior Board acted within its discretion to terminate Altman, his conduct did not warrant removal. This revelation underscores the complexity of the situation and the need for improved governance practices.

OpenAI also announced the adoption of new corporate governance guidelines and the establishment of a whistleblower hotline. The company is enhancing its conflict-of-interest policy, although specifics were not provided.

Altman's reinstatement and the subsequent governance overhaul reflect a concerted effort to address internal challenges and ensure the stability and integrity of OpenAI.

(With Reuters inputs)