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Microsoft CDR (CAD Hedged)
Symbol MSFT
Shares Issued 11,150,000
Close 2023-11-17 C$ 27.41
Market Cap C$ 305,621,500
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Globe/AP say Microsoft-backed OpenAI pushes CEO out

2023-11-20 08:19 ET - In the News

The Globe and Mail reports in its Saturday edition that the board of ChatGPT-maker OpenAI said Friday it has pushed out its co-founder and chief executive officer Sam Altman after a review found he was "not consistently candid in his communications" with the board. An Associated Press dispatch to The Globe reports that the Microsoft-backed company said in a statement, "The board no longer has confidence in his ability to continue leading OpenAI." Mira Murati, OpenAI's chief technology officer, will take over as interim CEO effective immediately, the company said, while it searches for a permanent replacement. An OpenAI spokesman declined to answer questions on what Mr. Altman's alleged lack of candour was about. The statement said his behaviour was hindering the board's ability to exercise its responsibilities. As part of the transition announced Friday, OpenAI's president and board chairman, Greg Brockman, will be stepping down as chairman of the board but will remain in his role at the company, reporting to the CEO. The statement gave no explanation for that change. Microsoft, which has invested billions of dollars into the start-up, said Friday that the transition will not affect its relationship.

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