At approximately 1 a.m. Eastern Time on Tuesday, OpenAI disclosed that, following the abrupt dismissal of Sam Altman as CEO by the company’s previous board last Friday, there was a preliminary agreement for Altman to return as CEO along with a new “initial” board. Altman is set to replace interim CEO Emmett Shear, who, along with OpenAI CTO Mira Murati, had a brief stint in leadership. The board, chaired by Bret Taylor, former co-CEO of Salesforce, will also include Quora CEO Adam D’Angelo, a retained member from OpenAI’s previous board, and Larry Summers.

The term “initial” suggests that the board is provisional rather than permanent. Moreover, as this is an “in principle” arrangement, it lacks firm certainty. Clarification from OpenAI is anticipated, and we can expect this information during standard work hours.

According to a report from The Verge, the final OpenAI board is expected to comprise nine members, possibly including Sam Altman and a representative from Microsoft. Microsoft had reportedly been considering seeking a board seat before Tuesday’s development, potentially leading to regulatory scrutiny due to its association with OpenAI. Nevertheless, the tech giant seems to believe that the benefits of governance and oversight outweigh potential scrutiny.

The name Bret Taylor had been circulating in recent reports as a potential addition to the new OpenAI board. It’s plausible that Adam D’Angelo, reportedly deeply involved in negotiations to bring Sam Altman back to OpenAI, may have sufficient support to retain his board seat. Larry Summers, on the other hand, seems like a wildcard at first glance.

An economist, Summers held the position of U.S. Secretary of the Treasury from 1999 to 2001 and was the Director of the National Economic Council from 2009 to 2010. More recently, he played a pivotal role in guiding the Obama administration’s response to the Great Recession as the Director of the White House U.S. National Economic Council.

You might wonder why an economist and political figure, known for controversial comments during his tenure as Harvard president, is on the newly-formed OpenAI board. However, having a tech outsider on a startup’s board isn’t unprecedented. Summers’ appointment is strategic, offering valuable connections with governments, businesses, and academia, crucial as OpenAI faces increasing scrutiny.

Summers currently sits on several tech boards, including Block and Skillsoft Corp. He is also an adviser to Andreessen Horowitz. His strong views on AI align with OpenAI’s interests. Summers has publicly stated that AI will replace American jobs in the next 50 to 100 years, emphasizing the need for the U.S. to remain competitive in AI against global rivals like China. He has likened OpenAI’s ChatGPT to transformative inventions like the printing press and electricity, predicting its impact on higher-skilled jobs.

OpenAI’s chief scientist, Ilya Sutskever, appears to be one of the significant casualties in this reshuffle. Reportedly among the board members advocating for Altman’s removal, he seems to have relinquished considerable influence at the company he co-founded eight years ago. Tech entrepreneur Tasha McCauley and Helen Toner, director at Georgetown’s Center for Security and Emerging Technologies, are also no longer on the board.

Altman’s apparent satisfaction with Toner’s removal might stem from his earlier attempt to have her ousted over a paper she co-authored, which scrutinized OpenAI’s safety practices.

As for Sam Altman and the resigned OpenAI president, Greg Brockman, Altman’s return is confirmed, but Brockman’s role remains uncertain. Brockman, who resigned in protest of Altman’s removal, stated in a tweet that he’ll be “returning to OpenAI,” leaving his specific position unclear.

Updated 11:17 a.m. Eastern with additional context about Larry Summers