OpenAI appoints two new members to board of directors - CNBC

What the report says

CNBC reported that OpenAI has named two longtime financial executives, David Vélez and Robin Vince, to the boards overseeing both its nonprofit and for-profit entities. Vélez leads Nubank, described by CNBC as Latin America’s largest digital bank, while Vince is chief executive of BNY. OpenAI said Tuesday that the new directors bring perspectives on technology’s role in transforming industries and supporting economic growth.

The appointments come as OpenAI moves toward a possible public listing. CNBC reported that the company, valued at more than $850 billion, confidentially filed a prospectus with the U.S. Securities and Exchange Commission in June, though no official IPO timetable has been announced. In October, OpenAI completed a recapitalization that reinforced the OpenAI Foundation as the controlling nonprofit owner of its for-profit business, OpenAI Group PBC. At the time, the company said the foundation’s equity was worth about $130 billion.

Vélez and Vince join a board that includes OpenAI chair Bret Taylor, CEO Sam Altman, Quora CEO Adam D’Angelo, Sue Desmond-Hellmann, Zico Kolter, Paul Nakasone, Adebayo Ogunlesi and Nicole Seligman. CNBC noted that Kolter is the only listed director who does not also sit on the for-profit board, and OpenAI previously said another foundation director would eventually serve only on the nonprofit board while observing the for-profit board without a vote.

The board additions matter because OpenAI’s governance has drawn scrutiny since Altman’s brief removal as CEO in 2023 and subsequent return. The new appointments add financial-sector experience as the company expands commercially and prepares for potential public-market oversight.