I just found out something quite important happening at OpenAI right as they prepare for their IPO. Apparently, the company is undergoing a major restructuring of its leadership team at a critical moment.

According to a Bloomberg report, Brad Lightcap, OpenAI's COO, has been reassigned to "special projects" where he will report directly to Sam Altman. The interesting part is that he will focus on boosting enterprise software sales by collaborating with private equity firms, while Dennis Dresser, the CRO, will take on some of his responsibilities.

But there are more changes at the top. Kate Rouch, the CMO, is taking time to undergo cancer treatment, and Fiegie Simo, who leads AGI development, is also on leave due to a neuroimmune illness. Both could return in different roles depending on their recovery.

What draws attention is the timing. OpenAI just closed a funding round of $122 billion, reaching a valuation of $852 billion. The company is in full sprint toward its IPO while facing competitive pressure from Google and Anthropic. At the same time, they are trying to monetize ChatGPT with advertising and expand their user base.

Fiegie Simo, who was the CEO of Instacart before joining OpenAI, has been leading significant changes: she attempted to create a "super app" combining different tools, halted side projects like the Sora video generator, and promoted advertising tests in ChatGPT. In her internal memo, she mentioned she is leaving with "great anxiety" because the team is developing something with enormous potential, but her health issues can no longer wait.

During her absence, Greg Brockman, the co-founder and president, will handle product management, while other executives like Jason Kwon and Sarah Friar will share responsibilities.

This isn't the first time OpenAI has experienced leadership changes like this. After what happened with Altman at the end of 2023, the company has gone through several waves of executive resignations, leading to a restructuring of the board with more people experienced in markets, finance, and operations.

This series of moves shows that OpenAI is reorganizing just as it approaches its IPO. The company states it is focused on three priorities: frontier research, reaching nearly a billion users, and expanding enterprise solutions. An interesting time to be inside that company.