Can investors fire a board? Is it possible?
this post was submitted on 20 Nov 2023
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This is the best summary I could come up with:
Shear will take over as interim OpenAI CEO from Mira Murati, who was publicly aligned with Altman.
The hiring of Shear appears to close the door on Altman’s exit after he was fired Friday when the board said he had not been “consistently candid in his communications.” As we reported Saturday, the board quickly began discussing the CEO’s return under pressure from investors and the threat of a mass employee walkout.
On Saturday night, sources told The Verge the remaining board members had missed a 5PM PT deadline to resign and reinstate Altman and fellow co-founder Greg Brockman or face a slew of staff resignations.
After the deadline passed, droves of OpenAI employees started posting their support for Altman on social media.
OpenAI’s profile has skyrocketed since the launch of ChatGPT, which quickly became one of the fastest-growing services ever and kicked off a tech gold rush over generative AI.
Earlier this month, Altman reported that the service has over 100 million weekly users.
The original article contains 275 words, the summary contains 164 words. Saved 40%. I'm a bot and I'm open source!
I’m honestly surprised by this rollercoaster of events. I doubt it, but mass resignations and the loss of a co-founder all at once makes me think the company might go belly up. Especially if the rumors of M$ being pissed are true.