Sam Altman reinstated as OpenAI’s chief executive; Shruti Gurudanti, partner and corporate transactions director at Rose Law Group, says the reversal serves as a ‘perfect reminder’ to review your corporate bylaws

By New York Times

Sam Altman was reinstated late Tuesday as OpenAI’s chief executive, the company said, successfully reversing his ouster by OpenAI’s board last week after a campaign waged by his allies, employees and investors.

The company’s board of directors will be overhauled, jettisoning several members who had opposed Mr. Altman. Adam D’Angelo, the chief executive of Quora, will be the only holdover.

OpenAI had an “agreement in principle” for Mr. Altman to return as chief executive, it said in a post to X. “We are collaborating to figure out the details. Thank you so much for your patience through this.”

The return of Mr. Altman and Greg Brockman, the company’s president who had resigned in solidarity, and the remaking of the board, capped a frenetic five days that upended OpenAI, the maker of the ChatGPT chatbot and one of the world’s highest-profile artificial intelligence companies.

“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,” Mr. Altman said in a post to X, adding that he looked forward to reinforcing OpenAI’s partnership with Microsoft, its biggest investor.


“A perfect reminder to revisit your corporate structure and bylaws, and to make sure that you know exactly who has what kind of power in the company. In the case of OpenAI, the board has a particularly broad control over the for-profit business, and it was arguably used without due consideration.” – Shruti Gurudanti, partner and corporate transactions director at Rose Law Group

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November 2023