OpenAI, the developer of ChatGPT, has launched full-scale preparations for its initial public offering (IPO) by bringing two veteran financial heavyweights onto its board of directors.
On July 21, 2026 (local time), OpenAI announced the appointment of David Velez, founder and CEO of Brazil's Nubank, and Robin Vince, CEO of Bank of New York Mellon (BNY), as independent directors. This expands OpenAI's board from the existing eight members to ten. Director Velez is renowned as a financial expert specializing in IPOs, having successfully listed Nubank on the New York Stock Exchange in 2021. Director Vince is a veteran in risk management and operations, having spent 26 years at Goldman Sachs, where he served as Chief Risk Officer (CRO) and Chief Operating Officer (COO).
The recruitment of these two financial experts is seen as a strategic move to ensure OpenAI's IPO success. Director Velez is expected to spearhead the complex listing process and contribute to maximizing corporate value. In particular, Director Vince is set to chair OpenAI's audit committee and is expected to play a key role in establishing transparent and sound corporate governance. Their expertise will be concentrated on identifying and managing various risk factors that OpenAI may face during the IPO process.
OpenAI is expected to face several unique challenges during the IPO process. The distinctive governance structure in which a nonprofit foundation controls a public benefit corporation (PBC) may be unfamiliar to investors. Additionally, issues such as defending against lawsuits related to "hallucinations and mental health disorders in adolescents" and CEO Sam Altman's conflict of interest have been identified as major obstacles to the IPO. The new directors are regarded as well-suited to address these complex legal, structural, and ethical issues and secure investor confidence.