OpenAI announced the reinstatement of Sam Altman as CEO and the appointment of new board members, in response to the widespread backlash following his unexpected dismissal. The American Artificial Intelligence Research Organization, based in Delaware, said it was working “to understand the details” of the deal.
Altman confirmed the development and added that he looks forward to returning to OpenAI.
Fired CEO returns to OpenAI
Altman gained recognition after the introduction of ChatGPT last year, sparking a surge in the advancement of AI research and development accompanied by substantial investments totaling billions in the space.
His departure over the weekend sparked criticism from many OpenAI employees, leading to a collective memo to the board threatening mass resignations unless the board officially resigns. The executive’s removal from office was attributed to his alleged lack of transparency in communications with the board.
A leaked memo did not provide specific reasons for Altman’s departure, but emphasized that it was not due to misconduct or issues related to finances, business operations, safety or security practices/ confidentiality.
Later reports indicated that Altman, along with Greg Brockman, the company’s co-founder and chairman, and other former staffers, were close to joining Microsoft, a key investor in the AI startup. Following Altman’s unexpected firing, major investors, led by Microsoft CEO Satya Nadella, reportedly advocated for Altman’s reinstatement as CEO and replacement of the current board of directors.
The resolution involved complex negotiations, which led OpenAI to announce reach an agreement in principle on November 22.
“We have reached an agreement in principle for Sam to return to OpenAI as CEO with a new initial board of directors consisting of Bret Taylor (Chairman), Larry Summers and Adam D’Angelo. We work together to understand the details. Thank you very much for your patience through this.
I love openai, and everything I’ve done over the last few days has served to keep this team and its mission together. When I decided to join MSFT on Sunday evening, it was clear that it was the best route for me and the team. with the new board and the support of Satya, I am…
– Sam Altman (@sama) November 22, 2023
Worldcoin (WLD) rises 16%
Altman’s ouster led to a significant double-digit drop in the value of WLD, Worldcoin’s native token.
However, his return brought about an equally drastic change, but in a positive direction. WLD saw a substantial increase of around 16% over the past 24 hours, pushing the token to $0.0089 at the time of writing.
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