The review was initiated after the removal of Altman and Brockman from the OpenAI Board on November 17, 2023. WilmerHale found that the prior Board's decision was due to a breakdown in trust, not concerns about product safety, development pace, finances, or statements to investors. The firm also found that the prior Board acted within its discretion to terminate Altman, but his conduct did not mandate removal. After reviewing these findings, the Special Committee recommended the rehiring of Altman and Brockman, expressing full confidence in their leadership.
Key takeaways:
- The Special Committee of the OpenAI Board announced the completion of the review by WilmerHale, expressing full confidence in Sam Altman and Greg Brockman’s ongoing leadership of OpenAI.
- Three new members, Dr. Sue Desmond-Hellmann, Nicole Seligman, and Fidji Simo, have been elected to the OpenAI Board of Directors as part of its commitment to expansion.
- OpenAI’s governance structure is being improved with the adoption of a new set of corporate governance guidelines, strengthening of OpenAI’s Conflict of Interest Policy, creation of a whistleblower hotline, and additional Board committees.
- WilmerHale's review found that the prior Board's decision to remove Sam Altman and Greg Brockman was due to a breakdown in trust, not concerns about product safety, finances, or statements to investors, customers, or business partners.