OpenAI recently announced the appointment of David Vélez and Robin Vince to both the OpenAI Foundation board and the OpenAI Group PBC board. David Vélez is the founder, Chairman, and Global CEO of Nubank, a prominent digital bank in Latin America, while Robin Vince serves as Chairman and CEO of BNY, a leading global financial services company. Bret Taylor, Chair of both OpenAI boards, highlighted their ability to use technology to transform financial services and expand opportunities globally, emphasizing the value their experience will bring as OpenAI expands its reach.
Vélez founded Nubank in 2013, building it into one of the world's largest digital financial services platforms with over 135 million customers by focusing on a digital-first, customer-centric model that made banking more accessible and transparent. His experience with rapid growth and expansion, including Nubank's move into the U.S. market, aligns with OpenAI's goals of serving more businesses and people. Vince, since becoming CEO of BNY in 2022, has led a significant transformation of the 240-year-old company, simplifying its operations, accelerating investments in AI and data, and fostering a culture of innovation.
Both Vélez and Vince are expected to contribute complementary perspectives on how technology can redefine industries and drive economic growth. Their backgrounds in leading global institutions through technological and market changes, coupled with their focus on innovation, governance, resilience, and creating lasting value for users, are seen as invaluable assets to OpenAI's mission to ensure AI benefits everyone. They expressed excitement about contributing to OpenAI's efforts, with Vélez noting AI's potential to expand access and opportunity, and Vince emphasizing its role as a "capacity creator" requiring strong governance and responsible deployment.
This move comes as the OpenAI Foundation has recently undergone a restructuring to strengthen its governance and mission oversight. The Foundation maintains control over the for-profit OpenAI Group through Class N Common Stock, enabling it to appoint or remove board members and block changes to the for-profit's mission. The Foundation is also committing significant resources, including a $1 billion plan for 2026, towards disease research, AI safety, and community programs, with a broader goal of $25 billion for curing diseases and AI resilience. This financial capacity is tied to the OpenAI Group's equity value, which was recently valued at approximately $130 billion, making the Foundation a significant philanthropic entity.
Concerns about OpenAI's internal ethics and safety teams have been noted, with the departure of its only dedicated ethicist, Chloé Bakalar, in July, without a replacement. The company clarified that AI ethics is integrated across research teams rather than residing with a single owner. Additionally, the Preparedness team was dissolved, and safety responsibilities were folded under Research Chief Mark Chen, with Mia Glaese now serving as VP of Research and Safety. These internal structural changes contrast with the external appointments, which are aimed at reinforcing external governance and leveraging seasoned leadership for strategic growth and responsible AI deployment.
