Sam Altman is to return back to OpenAI after being ousted as chief executive from the board, the company has announced.
An agreement has been met “in principle” for Altman to return as chief executive and a new board will be formed.
The ousted CEO was sacked over the weekend has joined Microsoft and the more than 500 staff at the OpenAI company have threatened to quit unless he is reinstated.
In a letter 505 out of around 700 OpenAI workers will quit and join Microsoft unless Altman is reinstated.
Microsoft has already offered the 505 staff jobs at the tech giant and the key signatories is the former CEO Mira Murati and chief scientist IIya Sutskever.
On Friday the board of OpenAI sacked Altman citing he “was not consistently candid in his communications with the board.”
The letter expressed dissatisfaction over the board’s decision making saying, “Despite many requests for specific facts for your allegations, you have never provided any evidence.
In a statement posted to X, OpenAI said, “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.
“We are collaborating to figure out the details. Thank you so much for your patience through this.”
In his own message, posted to X, Mr Altman said, “I love OpenAI, and everything I’ve done over the past few days has been in service of keeping this team and its mission together.”
Microsoft chief executive Satya Nadella said they are “encouraged by the changes” to OpenAI’s board.
“We believe this is a first essential step on a path to more stable, well-informed, and effective governance,” he said in a post to X.