Altman to return as OpenAI CEO

The news: OpenAI said it had reached an in-principle agreement with Sam Altman to return as chief executive, less than a week after being sacked by the board. The startup said in a post on X late Tuesday (local time) that the company will have a new initial board consisting of Bret Taylor as chair, Larry Summers and Adam D'Angelo.

The context: Altman was fired by the company's board last Friday for a lack of communication with the boardroom, infuriating shareholders and employees. After the surprise sacking, shareholders considered taking legal action against the board and employees publicly considered leaving the company to join Altman at OpenAI backer Microsoft.

"With the new board and w satya’s support, i’m looking forward to returning to openai, and building on our strong partnership with msft," Altman subsequently posted on X.