one year on
OpenAI reaches agreement in principle for Sam Altman to return as CEO
After a chaotic five days that saw an interim CEO and threats of a mass exodus to Microsoft, the AI startup announces a new board structure and Altman's reinstatement.
OpenAI announced late Tuesday that it has reached an agreement in principle for Sam Altman to return as chief executive, capping a dramatic five-day saga that saw Altman fired, hired by Microsoft, and now reinstated at the startup he co-founded.
The new board will consist of former Salesforce co-CEO Bret Taylor as chair, former Treasury Secretary Larry Summers, and Quora founder Adam D’Angelo. The previous board members Helen Toner and Tasha McCauley are out; chief scientist Ilya Sutskever is also off the board. Microsoft, which owns 49% of OpenAI and had been blindsided by the firing, endorsed the new structure. CEO Satya Nadella called it “a first essential step on a path to more stable, well-informed, and effective governance.”
Countless other members of the startup resigned in protest of the earlier board decision, with many joining him at Microsoft over the weekend. Greg Brockman, OpenAI’s former president, announced on X that he is returning as well. The resolution came after intense pressure from investors and employees; Thrive Capital’s Joshua Kushner said the outcome is “the best outcome for the company, its employees, those who build on their technologies, and the world at large.” The week leaves observers wondering how the startup will rebuild trust and whether its unusual governance structure can survive such a fracture.
The record
Said he loves OpenAI and that everything he did over the past few days was to keep the team and mission together.
Said Microsoft is encouraged by the changes to the board and believes this is a first essential step toward more stable and effective governance.
Posted 'we are so back' on X.
Said he was pleased with the new decision and that this pathway maximized safety while doing right by stakeholders.
Called OpenAI potentially one of the most consequential companies in computing history and praised Altman and Brockman's commitment.
One year later — open only if you can handle spoilers
The agreement held, and Altman returned as CEO that week. The new board quickly stabilized the company, though governance questions lingered. The episode became a case study in startup governance and the power dynamics between for-profit entities and their nonprofit boards.