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OpenAI announced the reinstatement of Sam Altman as CEO and the appointment of new board members, responding to the widespread backlash following his unexpected removal. The Delaware-based American artificial intelligence research organization asserted that it is working “to figure out the details” of the agreement.
Altman confirmed the development and added that he is looking forward to returning to OpenAI.
Sacked CEO Returns to OpenAI
Altman gained recognition following 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 exit over the weekend triggered criticism from numerous OpenAI employees, leading to a collective note to the board threatening mass resignations unless the board formally stepped down. The exec’s removal from his position was attributed to his alleged lack of consistent 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/privacy practices.
Subsequent reports indicated that Altman, along with Greg Brockman, the company’s co-founder and president, and other former staff members, was set to join Microsoft, a key investor in the AI startup. Following Altman’s unexpected dismissal, major investors, led by Microsoft CEO Satya Nadella, reportedly advocated for Altman’s reinstatement as CEO and the replacement of the current board.
The resolution involved intricate negotiations, which led OpenAI to announce reaching an agreement in principle on November 22nd.
“We have reached an agreement in principle for Sam to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo. We are collaborating to figure out the details. Thank you so much for your patience through this.”
i love openai, and everything i’ve done over the past few days has been in service of keeping this team and its mission together. when i decided to join msft on sun evening, it was clear that was the best path for me and the team. with the new board and w satya’s support, i’m…
— Sam Altman (@sama) November 22, 2023
Worldcoin (WLD) Surges by 16%
Altman’s ousting led to a significant double-digit drop in the value of WLD, the native token of Worldcoin.
However, his return prompted a similarly dramatic shift, but in a positive direction. WLD experienced a substantial increase of around 16% in the last 24 hours, pushing the token to $0.0089 at the time of writing.