The company behind buzzy chatbot AI ChatGPT has agreed to bring back its ousted CEO, Sam Altman, and appoint new board members after nearly all of its employees threatened to quit over his ouster. The original board fired Altman on Nov. 17 and gave a scant explanation. The fracas brought attention to the need to protect the safety of developing and monetizing artificial intelligence but also revealed a power struggle between the research and product sides of the business.
According to a post on X, the venture capital firm owned by Elon Musk’s SpaceX and Tesla, “The OpenAI board has agreed in principle for Sam to return to his role as CEO. The agreement includes a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.”
Taylor is the former co-CEO of Salesforce and chaired Twitter’s board before its takeover by Musk’s Elon. He was also on the board of Yahoo and was a member of the governing body of the U.S., the Federal Reserve Bank. Summers is the former president of Harvard University and a U.S. Treasury Secretary. He is also a Stanford Graduate School of Business professor and a longtime adviser to Musk’s companies. Adam D’Angelo is the co-founder and CEO of question-and-answer website Quora and joined the previous board in 2018.
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While Microsoft has reportedly offered jobs to Altman and Greg Brockman, president of OpenAI at the time of his firing, how much influence they will have on the board is still being determined. OpenAI’s investors don’t have the right to vote board members out, which limits their impact.
Several people on the board with Altman have left since he was ousted, including GeoSim Systems founder Tasha McCauley and Helen Toner, director of strategic research grants at Georgetown University’s Center for Security and Emerging Technology. In addition, several senior researchers resigned this week.
The resignations follow a public disagreement between the company’s leadership and board of directors over how fast to develop and monetize A.I. Sources say the conflict was sparked by concerns that the company needed to move faster to commercialize its work.
The dispute has sparked an investigation by the U.S. Securities and Exchange Commission, which oversees public companies in the United States. It is seeking details from the board of directors and its management to see if there were any violations. The SEC could also investigate if the board misled investors. This isn’t the first time a company has been accused of such a thing. In a separate incident in 2015, Uber was accused of defrauding its drivers. Ultimately, the SEC dropped the probe after an apology and settlement from the company. However, the SEC did investigate its investor relations practices. In that case, the company was forced to change its policies.