Business
Sam Altman: Ousted OpenAI boss to return days after being sacked
OpenAI co-founder Sam Altman will return as boss just days after he was fired by the board, the firm has said.
The agreement “in principle” involves new board members being appointed, the tech company added. It comes after Altman was sacked on Friday triggering an open letter from staff who threatened to resign unless he was reinstated.
“I am looking forward to returning to OpenAI,” Altman said in a post on X, formerly Twitter. He added: “I love OpenAI, and everything I’ve done over the past few days has been in service of keeping this team and its mission together. He added the firm would build on its “strong partnership with Microsoft.”
Last week, the board decided to remove Altman, which led to co-founder Greg Brockman’s resignation, sending the star AI company into chaos.
The decision was made by the three non-employee board members, Adam D’Angelo, Tasha McCauley and Helen Toner, and a third co-founder and the firm’s chief scientist Ilya Sutskever. But on Monday Sutskever apologised on X, and signed the staff letter calling on the board to reverse course.
Microsoft, the biggest investor in OpenAI, then offered Altman a job leading “a new advanced AI research team” at the tech giant.
On Wednesday, OpenAI said it had agreed Mr Altman’s return to the tech company in principle, and that it would partly reconstitute the board of directors that had dismissed him.
Former Salesforce co-CEO Bret Taylor and former US treasury secretary Larry Summers will join current director Adam D’Angelo, OpenAI said.In a post on X, Mr Brockman also said he would be returning to the firm.
Emmett Shear, who had been appointed OpenAI’s interim chief executive, said he was “deeply pleased” by Mr Altman’s return after about “72 very intense hours of work”. “Coming into OpenAI, I wasn’t sure what the right path would be,”he said on X, but added that Mr Altman’s reinstatement “was the pathway that maximized safety alongside doing right by all stakeholders involved”.
Microsoft boss Satva Nadella said the firm was “encouraged by the changes to the OpenAI board”. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.” Microsoft has heavily invested in OpenAI, but its links do not extend to the boardroom.
The battle at the top of OpenAI began suddenly on Friday when the then board announced it was firing Altman, saying it had “lost confidence” in his leadership. It accused him of not being “consistently candid in his communications” though what it was that he was allegedly not candid about remains unclear.
This then led to nearly all of OpenAI’s more-than-700 staff to sign an open letter threatening to leave unless the board resigned. The letter stated that Microsoft, had assured them that there were jobs for all OpenAI staff if they wanted to join the company.
However, late on Tuesday it became clear that negotiations were underway focused on enabling Mr Altman to return.
Board games
But the upheaval of the past few days has raised questions about how a group of just four people could make decisions that have rocked a multi-billion dollar technology business.
In part this is because of OpenAI’s unusual structure and purpose.
It began life in 2015 as a non-profit – many charities have that status – with the mission to create “safe artificial general intelligence that benefits all of humanity”. The mission, did not include looking after the interests of shareholders.
In 2019 it added a for-profit subsidiary but its purpose remained unchanged and the not-for-profit’s board remained in charge.
The board members involved in Altman’s dismissal have yet to explain their decision – Elon Musk is among those who have urged members to “say something”.
But that has yet to happen. In reaction to the news of the reinstatement and new board, on X Ms Toner posted just “and now we can all get some sleep”.
(BBC)
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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