"WilmerHale found that the prior Board acted within its broad discretion to terminate Mr. Altman, but also found that his conduct did not mandate removal," it added.
Conflict of interest
OpenAI said it was adopting new corporate governance guidelines and creating a whistleblower hotline. The startup, whose CEO has been a prolific investor in other companies, also said it was strengthening its conflict of interest policy.
The board gave few details about those improvements.
The board's lack of detail for its surprise November decision fueled speculation about potential misconduct by Altman, which he and the company have denied, and about supposed existential risks from the technology that OpenAI is building.
Altman's return as CEO about four days after his firing came after nearly all of OpenAI's employees threatened to depart unless the board restored Altman and resigned.
His return led to discussions about how OpenAI would be governed, and the company announced a reconstituted board that did not include Altman and was helmed by Taylor.
