OpenAI 'turns around', co-founder Sam Altman returns as CEO

Mr. Sam Altman

OpenAI announced on November 22 that it had reached an agreement with Mr. Sam Altman to return as CEO of the company with a new board of directors including Bret Taylor, Larry Summers, and Adam D'Angelo, according to Reuters.

"I look forward to returning to OpenAI," Sam Altman wrote on social network X.

Earlier the same day, US media cited informed sources revealing that a second round of negotiations were taking place between Mr. Sam Altman, interim CEO Emmett Shear and at least one member of the OpenAI Board of Directors.

Sam Altman returns as CEO of OpenAI

Some of OpenAI’s investors are also involved in the negotiations to bring Altman back. The re-negotiation between the OpenAI Board of Directors and Altman is considered a significant development because, until November 21, most members of the OpenAI Board of Directors refused to contact the co-founder, whom they fired on November 18. The decision to fire caused a huge wave not only for the company, its shareholders, but also for the technology-minded public.

Shareholders lobbying for Mr. Altman's return include Thrive Capital, Khosla Ventures and Tiger Global Management, according to Bloomberg, citing people familiar with the matter.

On November 21, OpenAI's Deputy Director of Global Affairs, Anna Makanju, sent a notice to employees stating that the Board of Directors was actively discussing ways to resolve the situation after nearly all employees pressured to quit en masse unless Mr. Altman was reinstated.

On November 21, Mr. Altman was announced to have joined Microsoft Corporation after initial negotiations with the OpenAI Board of Directors failed. Mr. Greg Brockman, former president of OpenAI, also joined Microsoft with Mr. Altman.

Following the latest developments, Mr. Altman said he would build a strong partnership with Microsoft.

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