The company announced on Tuesday that David Vélez, Chief Executive Officer of Nubank, Latin America's largest digital bank, and Robin Vince, Chief Executive Officer of global financial services firm BNY, have joined its boards of directors.
According to OpenAI, the appointments are aimed at bringing broader financial and business expertise to the company's leadership as it continues to expand its global footprint and commercial operations.
In a statement, OpenAI said both executives will offer valuable insight into the intersection of technology, finance and economic development.
“David and Robin are exceptional leaders who have used technology to reshape financial services and expand opportunity at global scale,” Bret Taylor, Chair of the OpenAI Foundation and OpenAI Group PBC Boards, said.
“Their experience will be invaluable as OpenAI serves more businesses and people around the world, working to ensure AI benefits everyone.”
The appointments come at a pivotal moment for OpenAI, which is reportedly valued at more than $850 billion. The company confidentially submitted IPO paperwork to the U.S. Securities and Exchange Commission (SEC) in June, although it has yet to announce when its shares will begin trading publicly.
OpenAI has spent the past year restructuring its corporate governance ahead of a potential stock market debut. In October, the company completed a recapitalization that reaffirmed its nonprofit foundation as the controlling entity over its commercial arm, OpenAI Group PBC.
At the time, OpenAI disclosed that the nonprofit's equity stake was valued at approximately $130 billion, making it one of the world's best-funded nonprofit organizations.
Vélez and Vince will now join an experienced board that includes Bret Taylor, former co-CEO of Salesforce, and OpenAI CEO Sam Altman. Other directors include Quora CEO Adam D'Angelo, healthcare executive Dr. Sue Desmond-Hellmann, Carnegie Mellon University professor Zico Kolter, retired U.S. Army General Paul Nakasone, Global Infrastructure Partners co-founder Adebayo Ogunlesi, and former Sony executive Nicole Seligman.
Among the current directors, Kolter remains the only member serving exclusively on the nonprofit board. OpenAI previously stated that, within a year of its recapitalization, another foundation director would also transition to serving solely on the Foundation Board while acting as a non-voting observer on the for-profit board.
The latest appointments further bolster OpenAI's governance as the company continues its rapid expansion amid growing investor interest and increasing competition in the global artificial intelligence industry.
OpenAI's leadership structure has undergone significant changes in recent years. In November 2023, CEO Sam Altman was briefly removed after the then-board concluded he had not been "consistently candid" in his communications. However, following intense negotiations and widespread backing from employees and investors, Altman returned as CEO within days and was reinstated to the board in March 2024.
With the addition of Vélez and Vince, OpenAI is signaling its intention to deepen its financial expertise as it prepares for its next phase of growth, which could culminate in one of the biggest public listings in the technology sector.