Forbes’ Post

The recent high-profile board changes and events at tech company, OpenAI are a salutary reminder that directors (and also shareholders) may have the ability to change the make-up of a board, even where a founder is concerned. Our recent article looks at the various ways in which a director can be removed from office under English law and some of the ways this can be protected against.

1. Did Altman circumvent the board in a major deal? 2. Do they disagree on long-term strategy? 3. Do the numbers not add up? 4. Could it be a major security or privacy incident? 5. Perhaps a difference of AI ethics or philosophy? 6. What about IP and legal liability? 7. Did CTO Mira Murati launch a coup? 8. Was it a “personal matter”? https://lnkd.in/gmcvVjMu

#SamAltman returns to OpenAI board despite law firm's review #TrustLoss 🤝 Follow us on Discord 🔜: https://lnkd.in/gt823Zd3 🤝 Follow us on Whatsapp 🔜 https://wapia.in/wabeta _ ❇️ Summary: OpenAI CEO Sam Altman will rejoin the board after being fired and then reinstated in a chaotic four-day span. A review by law firm WilmerHale found that the board acted without allowing Altman to address their concerns about a "loss of trust." The review determined that Altman's firing was not due to concerns about product safety, security, development pace, finances, or statements. Altman's firing led to a breakdown in trust between him and the board, resulting in his removal. The company has since recruited new board members, all women, and is moving forward with a refreshed board. Hashtags: #chatGPT #OpenAIboard #trustissues

OpenAi's Sam Altman, this post will require a little rewind, run it back "how it started", and "how it's going": Watch this April 2023 video and then read today's WSJ's article, "SEC Investigating Whether OpenAI Investors Were Misled" https://lnkd.in/gaWDFVcj https://lnkd.in/gT-UWbX3 #openai #samaltman

SEC Probes OpenAI for Possible Investor Misleads, Reports WSJ. The U.S. Securities and Exchange Commission is scrutinizing internal communications by OpenAI CEO Sam Altman as part of an investigation into whether the company's investors were misled, the Wall Street Journal. See here - https://lnkd.in/g_JK5YZf #openai #wsj #samaltman #openaiinvestor

OpenAI selects WilmerHale lawyers for Altman dismissal probe. #InvestigationStartsWithWilmerHale 🤝 Follow us on Discord 🔜: https://lnkd.in/gt823Zd3 🤝 Follow us on Whatsapp 🔜 https://wapia.in/wabeta _ ❇️ Summary: OpenAI has chosen two lawyers from WilmerHale to investigate the circumstances surrounding Sam Altman's removal as CEO. Bret Taylor and Larry Summers, board members, selected Anjan Sahni and Hallie B. Levin for the review. The goal is to conduct an effective and timely assessment of the events leading up to Altman's firing. In the meantime, the board will work to strengthen the company's governance and oversee its mission of ensuring that artificial general intelligence benefits humanity. Hashtags: #chatGPT #OpenAIInvestigation #WilmerHaleLawyers

Exciting news from OpenAI! 🍓 They're working on a new AI model named "Strawberry" to achieve human-level intelligence. This advance in deep research could lead to major scientific breakthroughs and innovative software applications. #OpenAI #Strawberry #AIintelligence

Good article on some of the behind the scenes machinations at OpenAI. What's clear is the board construct was in conflict with management's objective to grow the business. The article states that on the website each board member's responsibility was "to humanity, not OpenAI investors." Because of that duty, you can't blame the individual board members for their decisions that resulted in this chaos. Based on what is known, they were fulfilling their responsibilities.

Exciting news from OpenAI! 🚀 The new GPT-4o mini offers top-notch performance at a fraction of the cost, making it more accessible for users. Find out how this affordable AI model is revolutionizing the industry! #OpenAI #GPT4o #AIrevolution

OpenAI just over a week ago announced its new board and the wrap-up of an internal investigation by U.S. law firm WilmerHale into the events leading up to OpenAI CEO Sam Altman’s ouster. OpenAI did not publish the investigation report but provided a summary of the findings. “The review concluded there was a significant breakdown of trust between the prior board and Sam and Greg,” Taylor said, adding that the review also “concluded the board acted in good faith... [and] did not anticipate some of the instability that led afterwards.” Taylor also said the board’s concerns did not arise regarding concerns over product safety and security, OpenAI’s finances or statements to customers or business partners, that it was “simply a breakdown in trust between the board and Mr. Altman.” ****** Comment: And within a week or so the Superalignment leadership resign! Connected? Surely not! 😘 Related posts on this topic: 1/ https://lnkd.in/eCEUKFz2 2/ https://lnkd.in/e8HW2qqc 3/ https://lnkd.in/eg6Ve-5Z 4/ https://lnkd.in/ei-URgjC