Sam Altman to be reinstated at OpenAI’s CEO

(NBC, KYMA/KECY) - Sam Altman will be reinstated as CEO of OpenAI, reversing last Friday's decision by the company's board who ousted him.

The company, which was started by Altman, announced Tuesday that "an agreement in principle" had been reached for Altman to return to his former job as CEO. The announcement comes after Altman joined Microsoft to lead that company's new advanced artificial intelligence (AI) team.

In a statement on social media, Altman said he was happy to be back.

It was the tech company's Board of Directors that sacked Altman last week concluding, "He was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities."

The board did not offer specifics, but the move ignited a revolt by employees who threatened to quit the tech upstart in droves.

Now, OpenAI, the company behind ChatGPT, will have a new board to replace the old one that fired Altman.