business
OpenAI Adds Nubank and BNY Chiefs to Nonprofit and For-Profit Boards
OpenAI named David Vélez and Robin Vince to both its nonprofit and for-profit boards. The moves come as the company advances toward a potential IPO after a June confidential SEC filing and October recapitalization.
Jul 21, 5:22 PM·1m read1 source
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OpenAI appointed David Vélez, chief executive of Nubank, and Robin Vince, chief executive of BNY, to the boards of its nonprofit OpenAI Foundation and its for-profit OpenAI Group PBC. CNBC reported the additions as the company prepares for a possible initial public offering.
The company filed its prospectus confidentially with the Securities and Exchange Commission in June and completed a recapitalization in October.
That transaction established the OpenAI Foundation as the controlling shareholder of the for-profit entity, with the nonprofit's equity valued at roughly $130 billion at the time. OpenAI is currently valued at more than $850 billion, according to CNBC. " The two new directors will join Taylor, OpenAI chief executive Sam Altman, and seven other members.
The full board now includes Quora chief executive Adam D'Angelo, healthcare executive Sue Desmond-Hellmann, Carnegie Mellon professor Zico Kolter, retired U.S. Army General Paul Nakasone, Global Infrastructure Partners co-founder Adebayo Ogunlesi, and former Sony executive Nicole Seligman. Kolter remains the sole director who does not also serve on the for-profit board.
Altman rejoined OpenAI and was reinstated to the board in March 2024 following several days of negotiations.
