Business & Finance
OpenAI’s Board shows ‘full confidence’ in CEO Sam Altman by welcoming new board members
OpenAI, the artificial intelligence company, has resolved its internal conflicts and reinstated CEO Sam Altman to the board of directors. The company has also added three women directors to strengthen governance after recent turmoil. Altman expressed gratitude and acknowledged the team’s resilience during a challenging time.
An independent investigation by the law firm WilmerHale found that Altman’s initial ousting was due to a breakdown in trust with the previous board, but his conduct did not warrant removal. Altman’s net worth has reached $2 billion, although OpenAI’s success is not attributed to his fortune. The current board chair reassured that Altman’s firing was not related to concerns about product safety, security, or finances.
Moving forward, OpenAI plans to implement governance improvements, including new corporate guidelines, conflict of interest policies, a whistleblower hotline, and additional board committees. Despite the internal turmoil, the company remains dedicated to developing artificial general intelligence (AGI) for the benefit of humanity.
The investigation’s full report was not released, but OpenAI stated that the previous board acted within its discretion. As OpenAI navigates challenges in AI development, it aims to regain stability and focus on its mission. The company’s commitment to safe and beneficial AGI development remains steadfast amidst these internal changes.
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