In a dramatic turn of events, Sam Altman is set to return as the CEO of OpenAI, overcoming a recent boardroom crisis that plunged the company into chaos. Greg Brockman, the former president, who resigned in protest of Altman’s firing, is also returning.

Late on Tuesday, OpenAI released a statement revealing an “agreement in principle” for Altman’s return, accompanied by a new board featuring Bret Taylor, Larry Summers, and Adam D’Angelo. D’Angelo, a holdover from the previous board, is retained to provide continuity. The board’s primary task is to vet and appoint a larger board of up to 9 members, resetting OpenAI’s governance. Microsoft, a major investor committing billions to the company, seeks a seat on the expanded board, as does Altman.

Sources familiar with the negotiations indicate that both parties have agreed to an investigation into the recent events, to be conducted by an independent law firm. The power struggle within the company appears to be ongoing despite the apparent resolution.

Altman confirmed the deal on X, stating that his recent actions aimed to preserve the team and its mission. Thrive Capital, another significant investor, hailed Altman’s return as the best outcome for the company and the wider world, emphasizing Altman and Brockman’s commitment to OpenAI’s integrity and vision.

Helen Toner, a key board member in the initial decision to oust Altman, expressed relief, stating, “And now, we all get some sleep.”

Altman’s return is more surprising than his sudden departure on Friday, as the nonprofit board initially seemed unwavering in its decision to remove him. Employee dissent reached a point where they threatened to defect to Microsoft with Altman and co-founder Greg Brockman if the board didn’t resign.

Since Altman’s dismissal, the board members opposing him have refrained from providing detailed reasoning, despite potential lawsuits and employee walkouts. Ilya Sutskever, OpenAI’s chief scientist, initially sided against Altman but switched back after a plea from Brockman’s wife. This left the remaining board members more vulnerable.

Interim CEO Emmett Shear, appointed on Sunday, had reportedly threatened to resign unless the board furnished evidence justifying Altman’s firing. Shear, reacting to the news of Altman’s return, expressed satisfaction, calling it “the pathway that maximized safety alongside doing right by all stakeholders involved. I’m glad to have been a part of the solution.”

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