Ousted Chief Executive Officer of OpenAI Sam Altman is slated to rejoin the company, according to a report in the Associated Press. He was abruptly ousted from the company last week.

OpenAI, a San Francisco-based company, announced that it has reached a principle agreement for Altman to resume his role as CEO. Additionally, a new initial board comprising notable tech industry members was established. The firm's statement was cited in the AP report. It read, "We have agreed in principle for Sam Altman to return to OpenAI as CEO with a new initial board made of former Salesforce co-CEO Bret Taylor, former U.S. Treasury Secretary Larry Summers and Quora CEO Adam D'Angelo."