OpenAI, the world’s leading artificial intelligence technology company, has found itself in the wrong trend after the dismissal of its CEO Sam Altman. Last Friday, members of the OpenAI board of directors fired its founder and CEO, arguing that they were no longer confident in his ability to lead the company.
The situation quickly escalated as OpenAI investors began demanding proof of Altman’s shortcomings in the company’s operations, which the board of directors reportedly failed to provide. As a result of the latest turn of events, OpenAI has rehired Sam Altman as CEO through an official announcement.
OpenAI agrees to return Altman as CEO
OpenAI has officially announced that it is bringing back Sam Altman as CEO. The company is also making some changes to the board of directors and is still in negotiations to finalize the terms.
OpenAI’s new board of directors will consist of Brett Taylor, Larry Summers, and Adam D’Angelo. OpenAI states that the final details of the restructuring will be announced at a later date. The announcement also clearly states that OpenAI and Sam Altman have reached a mutual agreement on this decision.
As a reminder, OpenAI’s board of directors fired Sam Altman on November 17, citing that he was not open in his communication with the company. OpenAI issued a statement saying that the board members were not confident that Sam would continue to lead the company.
OpenAI’s largest investor, Microsoft, stepped in and hired Sam Altman and his partner Greg Brockman to lead a new AI research department. Shortly after the announcement, more than 700 OpenAI employees threatened to quit if the board of directors did not return Sam Altman as CEO.
Moreover, Microsoft guaranteed jobs to all OpenAI employees who were willing to resign and join Sam Altman in his new division. This meant that OpenAI could have lost more than 95% of its employees, which would have been catastrophic.
It seems that the board of directors of OpenAI has agreed to negotiate to find the best way out of this situation. For reference: OpenAI is a global leader in artificial intelligence and is valued at over $80 billion.