OpenAI CEO Sam Altman walks through the Hart Senate Building after a meeting at the Capitol on June 3, 2026 in Washington, DC, USA.
Evelyn HochsteinReuter
OpenAI announced the appointment of longtime financial executives David Velez and Robin Vince to its nonprofit and for-profit boards of directors as the company moves toward an IPO.
Mr. Vélez is the CEO of Nubank, Latin America’s largest digital bank, and Mr. Vince is the CEO of the financial services company BNY. OpenAI said in a statement Tuesday that the two companies offer the company “complementary perspectives on how technology can reshape industries and drive economic growth.”
The appointment comes as OpenAI, which has a market capitalization of more than $850 billion, prepares for a potentially large initial public offering. The company confidentially filed a prospectus with the Securities and Exchange Commission in June, but has not disclosed a formal timeline for its planned debut.
OpenAI underwent a capital increase in October, strengthening its structure as a nonprofit organization called the OpenAI Foundation, which has a controlling stake in its for-profit business, OpenAI Group PBC. The company said in a release at the time that the nonprofit’s capital value was approximately $130 billion, and has since touted it as one of the most resource-rich nonprofits in the world.
“David and Robin are outstanding leaders who have used technology to reimagine financial services and expand opportunity on a global scale,” Brett Taylor, chairman of the OpenAI Foundation and OpenAI Group PBC board, said in a statement. “Their experience will be invaluable as OpenAI serves more businesses and people around the world and strives to make AI benefit everyone.”
Velez and Vince will serve alongside OpenAI’s existing directors, including former co-CEO Taylor. sales forceand OpenAI CEO Sam Altman. Quora CEO Adam DiAngelo, longtime healthcare executive Dr. Sue Desmond Hellman, Carnegie Mellon professor Zico Colter, retired U.S. Army general Paul Nakasone, Global Infrastructure Partners co-founder Adebayo Ogunlesi, and former Sony executive Nicole Seligman are also board members.
Mr. Colter is the only person not serving on the board for profit. OpenAI announced in October that within a year of its capital increase, a second foundation director would “serve only on the foundation board and as an observer without voting rights on the group board.”
Mr. Altman was temporarily removed as CEO in 2023 after former board members determined that he had not “consistently and openly communicated.” Mr. Altman returned to the company after several days of dramatic negotiations and was reinstated as a director in March 2024.
Watch: Watch CNBC’s full interview with OpenAI Chairman and Sierra Co-Founder Brett Taylor.
