Details have emerged of the intrigues that played out on Friday leading to the exit of OpenAI’s popular CEO, Sam Altman, and the company’s co-founder and Chairman, Greg Brockman.

A statement from OpenAI, noted that a deliberative review process by the board concluded that Altman “was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities.” Hence, the board no longer has confidence in his ability to continue leading OpenAI.

Altman thereafter announced his resignation via a post on X but without the details. However, ousted Chairman, Greg Brockman shared the events that led to their exit, while expressing shock at the decision of the board.

How we were removed

Giving a blow-by-blow account of the incident, Brockman in a post on X, which was also reposted by Altman, shared:

• “Sam and I are shocked and saddened by what the board did today. Let us first say thank you to all the incredible people who we have worked with at OpenAI, our customers, our investors, and all of those who have been reaching out.
• “We too are still trying to figure out exactly what happened. Here is what we know:
• Last night, Sam got a text from Ilya asking to talk at noon on Friday. Sam joined a Google Meet and the whole board, except Greg, was there. Ilya told Sam he was being fired and that the news was going out very soon.
• “At 12:19 pm, Greg got a text from Ilya asking for a quick call. At 12:23 pm, Ilya sent a Google Meet link. Greg was told that he was being removed from the board (but was vital to the company and would retain his role) and that Sam had been fired. Around the same time, OpenAI published a blog post.
• “As far as we know, the management team was made aware of this shortly after, other than Mira who found out the night prior.
• “The outpouring of support has been really nice; thank you, but please don’t spend any time being concerned. We will be fine. Greater things coming soon.”

The new OpenAI CEO

Meanwhile, the board has also announced the appointment of a new CEO to replace Altman. According to the board, Mira Murati, the company’s chief technology officer, will serve as interim CEO, effective immediately.

A member of OpenAI’s leadership team for five years, Mira is said to have played a critical role in OpenAI’s evolution into a global AI leader.

• “She brings a unique skill set, and understanding of the company’s values, operations, and business, and already leads the company’s research, product, and safety functions. Given her long tenure and close engagement with all aspects of the company, including her experience in AI governance and policy, the board believes she is uniquely qualified for the role and anticipates a seamless transition while it conducts a formal search for a permanent CEO,” the OpenAI board stated.

[Nairametrics]

According to reports on Sky News, British Billionaire Sir Jim Ratcliffe is set to complete the acquisition of a 25% stake in Manchester United(Man United) and begin immediately restructuring the management of Old Trafford.

Ratcliffe, the chairman of petrochemicals firm INEOS, is expected to be confirmed as a minority shareholder of the 20-time Premier League champions before the league resumes. Once that is done, he will take responsibility for football operations, with expected massive shakeups.

Richard Arnold has already left his position as chief executive of Manchester United, with Ratcliffe expected to bring in his replacement. Football director John Murtough is also likely to be moved on amid a dreadful start to the season for Erik ten Hag’s side.

The takeover will see Man United owner, the Glazer family, finalise a $33 per share deal with Ratcliffe that will see the British billionaire acquire a 25% stake at Old Trafford.

The Glazer family has faced intense criticism from fans over handling this key part of the club’s operations.

The Glazer family announced in November 2022 that they were exploring “strategic alternatives” for the club, including a possible sale and were open to fresh investment.

According to Reuters, Ratcliffe’s offer represents a premium of 79.1% to the stock’s Thursday closing price of $18.43, valuing the Old Trafford club at about $5.4 billion, excluding debt.
United’s U.S.-listed shares rose 9.5% to $20.10 in early trading on Friday.

The deal values United higher than Premier League rivals Chelsea, sold by Russian Businessman Roman Abramovich in May for $5.2 billion to an investment group led by U.S. billionaire Todd Boehly and private equity firm Clearlake Capital.

United also generate more revenue and has a larger fan base than its London rival.

A 71-year-old Ratcliffe will also control the club’s player recruitment if the deal is finalised.

The deal structure that Ratcliffe has proposed would allow members of the Glazer family, as well as other shareholders, to cash out partially, one source told Reuters.

It is unclear if Ratcliffe is planning a full takeover or if the Glazers would be open to an outright sale.

Ratcliffe founded INEOS in 1998 and is the chemical group’s chairman and chief executive, with a two-thirds stake. Forbes pegs Ratcliffe’s net worth at $18.7 billion.

The British billionaire is no stranger to the business of sports. INEOS owns French Ligue 1 club Nice, Swiss Super League side FC Lausanne-Sport.

[Businessday]

Following the recent announcement of GlaxoSmithKline’s (GSK) departure from the Nigerian pharmaceutical market, there has been a notable surge in the prices of GSK medications, with increases reported to be as high as 1000%. 

The significant rise in the cost of these medicines has sparked widespread concern among Nigerians, many of whom have expressed their frustrations on social media platforms.

The escalating prices can be attributed to a combination of factors: the withdrawal of GSK, a major player in the pharmaceutical industry, and the burgeoning rate of inflation in Nigeria. 

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate as of October 2023 stood at 27.33%, the highest recorded since August 2005. This persistent upward trend in inflation has been a key driver in the rising costs of various goods and services, including pharmaceutical products. 

The compounded impact of Nigeria’s increasing inflation rate and GSK’s exit from the local market has had a substantial effect on the affordability and availability of medicines, posing significant challenges for healthcare in the country. 

GSK exit 

On August 3, GlaxoSmithKline (GSK), a prominent UK-based pharmaceutical company, communicated to its Nigerian branch, GSK Consumer Nigeria Plc, its decision to discontinue the direct commercialization of its prescription medicines and vaccines in Nigeria.

The company announced a strategic shift towards utilizing a third-party direct distribution model for its pharmaceutical products within the country. 

GSK attributed this significant change to a range of operational challenges. Primary among these was the difficulty in maintaining a steady supply of GSK drugs in the Nigerian market.

Additionally, the company faced considerable hurdles due to the scarcity of foreign exchange, which adversely affected its capability to manage and settle foreign currency-denominated trade payables with its product suppliers. 

Furthermore, GSK identified several external factors influencing its decision.

These included the prevailing insecurity in the region, the government’s decision to remove fuel subsidies, and the overall high cost of conducting business in Nigeria. These elements collectively contributed to GSK’s strategic realignment in the Nigerian pharmaceutical market. 

Consequences on the Nigerian pharmaceutical market  

Following GlaxoSmithKline’s (GSK) announcement, traders of pharmaceutical products report that there has been a noticeable scarcity of GSK drugs across the country.  

Nairametrics has also observed significant challenges faced by community pharmacies, particularly in Lagos, in procuring various GSK medicines, attributing this difficulty primarily to the decreased availability of these drugs. 

To illustrate the impact of this development, Nairametrics has compiled a comparison of the current prices (as of November 2023) with those before GSK’s exit, focusing on some of the most commonly used GSK medications.  

This comparison highlights the disparities and provides a clear picture of how the market has been affected by the company’s strategic withdrawal. 

Reactions 

Nairametrics conducted interviews with community pharmacists to delve into the causes of the recent surge in drug prices, customer reactions, and their expectations from the government. 

• One pharmacist stated, “Prices are soaring because of the major issue of the foreign exchange rate, then companies that left Nigeria, for instance, GSK, and they control most of the market products, something Nigerians are not really aware of. We also have companies planning to leave so there will be more shortage of medicines leading to price increase.” 
• Another added, “The scarcity of these medicines creates an increase in demand which leads to an increase in prices of medicines. If these companies left the country and directly imported medicines, they wouldn’t be this expensive, but based on exchange rates and certain government policies on importation, that’s why they are expensive.” 

All the pharmacists interviewed pleaded anonymity as they feared victimization by industry stakeholders some of whom do not encourage speaking to the media about prices. 

• Discussing customer behaviour, a pharmacist remarked, “Customers are now opting for cheaper brands, but there are some particular products that they just have to sacrifice for, like asthma medications. There are no options. Some have to cut down on feeding and supplements just to get medicines.” 
• The sentiment among customers was further echoed by another interviewee: “Customers have been lamenting seriously. Some do not care to the point where they’ve stopped using their medicines regularly. They are looking for places where they would get discounted prices.” 

Addressing government intervention, one pharmacist expressed, “We all want the government to work on the foreign exchange rate.

The dollar-to-naira rate is really impacting and affecting the lives and health of Nigerians.

They should also look for ways to entice these companies back while boosting our local pharmaceutical manufacturing companies like Emzor to fund these companies so they can get to a certain level of standard of operation.” 

• Another pharmacist emphasized the need for accessible healthcare: “The government should also make healthcare available to all, especially in government hospitals so Nigerians can have access to more affordable drugs.” 

Implications 

According to the BMC Infectious Diseases Journal, there is a significant prevalence of antibiotic use in Nigerian hospitals, estimated at 78.2%. The journal notes that antibiotics produced by GSK are among the most frequently prescribed due to their proven efficacy.  

This high reliance on GSK’s antibiotics implies that Nigerians facing common bacterial infections will now encounter increased medical expenses. 

In the context of respiratory illnesses, the journal highlights that asthma impacts between 14% to 18% of the general population in Nigeria, with a notable prevalence among adolescents.  

Given GSK’s role as the primary and trusted supplier of asthma medications, its exit from the Nigerian market is resulting in increased costs for asthma patients.  

This situation is exacerbated by the current economic challenges and the scarcity of these crucial medications. 

[Nairametrics]

Veteran actor, comedian and lecturer at Adeniran Ogunsanya University of Education in Lagos, Hafiz Oyetoro, popularly known as Saka, tells EMMANUEL OJO how his acting career has shaped him

How has the journey of 60 years been for you?

Yes, I turned 60 this year. It’s God. To be honest, I don’t do anything special in keeping a youthful look. It’s just been God. I can’t explain it. I only sleep, wake up, do my job, and go about my daily business. But physically, let’s say maybe because I am happy doing what I love doing. I found myself in the profession that I wanted and I had the opportunity to practise the profession. On the home front, I have a happy home. I do not have any issues with my wife.

What spurred your interest in acting?

Well, everybody has a vision or a mission to accomplish while alive. So, I think that is also God because it wasn’t in my plan to become an actor. I wanted to become a pilot, but when I started school, I found myself in a situation where each time my teachers wanted to do anything (relating to acting), they would select me. When I got to secondary school, I became very popular in the drama group and I thought there was nothing wrong with it, especially, when I heard that it was offered (as a course) at the university and that was why I applied for it at the then University of Ife, (now Obafemi Awolowo University).

Was it the discovery of your natural talent in drama that aborted your dream of becoming a pilot?

I was not that good in all the science subjects, apart from Physics. I was very good at Physics but I wasn’t good at Mathematics. I was struggling to learn it. At that time, I was in Iseyin (Oyo State), and when I visited my friend in Olivet High School, Oyo, I accidentally entered its laboratory where I did a comparison and saw that we practically didn’t have a laboratory in my school and I thought that if I continued with that, there would be a problem because we didn’t have anything in my school’s laboratory. When I left secondary school, I thought it was better for me to go for the arts. I had to reconfigure my mind to that. I had been having the suggestions in my mind to go the arts way because of the struggles I was having with Mathematics, but the laboratory issue in my school gave me the final conviction.

You have featured more in comedy roles than in other roles in movies. Is that deliberate?

Let me explain something. Every profession has what we call an area of specialisation. I guess comedy is my area of specialisation. I’m rounding off my doctorate in Stand Up Comedy at the moment. By the grace of God, I hope to be a PhD holder by the end of this year. I can do virtually everything in theatre arts, from costuming to make-up, and various roles. I can write and I can direct. However, my strength lies in comedy because I had the opportunity to go through various levels of theatre arts, from undergraduate level to postgraduate level, and in Nigeria. You know when you can do something very well, the directors wouldn’t like to waste their time trying to put the person through another role. They just pick the person who can interpret the role. As a matter of fact, in theatre arts, we have directing, choreography, music, writing, acting, and all that. So, if within the context of drama, comedy is my area of specialisation, that’s fine, but I can assure you that I can play any role and do anything as far as theatre arts is concerned.

How did you come about the name ‘Saka’?

Saka is a screen name. My name is Hafiz Oyetoro. My dad named me Hafiz, and my mum named me Adebimpe but as I tell people, hustling and struggling to survive in Lagos brought about the name, Saka.

There was a time when we were trying to do a television production here and there, and my friend, Gbenga Windapo, who is also a lecturer with me at the university, was the one I stayed with when I first came to Lagos. We were together in our undergraduate days and even in our postgraduate days. We became very close. We got a very good idea and we shared it with another friend, Greg Odutayo, and his wife. They had a production company. We told them the idea and they produced it in a film titled, “House Apart”. “House Apart” was reportedly the second most-watched comedy series in the (old) Western region as of that time. I played the role of Saka, while my friend played the role of Setilu and that was the beginning of everything, and at a point, Saka became very popular.

What year was that?

I think it was in 2004.

Was that your first role?

No, I had featured in many other movies before that.

Which movie was your first?

I can’t remember the first movie but one of the earliest movies I acted in was in “Irawo”. It was a Yoruba movie in Ibadan. I cannot remember most of it now.

When lecturing in class, do your students take you seriously or do they always see you in the light of being a comedian?

Well, they are theatre arts students. On a serious note, a lot of people have asked me that question but the fact is that these students are also theatre arts students. So, they understand the difference between acting and reality. Although, in the first and second lectures, they are usually excited and call me Saka, but when the lectures begin in earnest, they know that I am Hafiz Oyetoro, not just “Saka”.

We were trained as practitioners in the university to remove our personalities from the role we play. So, if you meet me one-on-one, you will know that I am a very reserved, quiet, and easy-going person unlike Saka who is noisy and all that. Once I leave the stage, I become Hafiz and that’s the ability to manoeuvre, manage roles and be able to identify oneself in the role one is playing and it’s also a big factor that helps me.

So, usually at first, they shout ‘saka’ but after the second lecture, they see Hafiz Oyetoro. However, sometimes, when I go out and people start shouting Saka, I usually like to dodge because I am a shy person.

Would you also say that you are a disciplinarian?

Well, I can’t say that. All I can say is that I don’t like rubbish. I feel like everybody should do their job. Discipline must be maintained else, one would lose their identity. As an actor, you have to be very disciplined because you are a role model. There are some adverts I will not do, no matter how much was given or paid for it.

Why so?

It is because I believe I am a role model and I am a teacher and as a teacher, if I tell my students not to take drugs and I encourage the advertisement of drugs, then, I am not doing what I’m teaching. Also for my children, whenever ‘Saka’ is on the screen, me and their mum would sit with them and watch ‘Saka’ on TV.

What’s the usual reaction of your children about your roles?

They are usually excited. I must say that my family, especially my wife, is my very first. My wife makes comments about the costumes and roles and I believe once my wife and children like the movie, it would be good in the market. I usually use them as my indirect critics.

Do you rehearse most of your comical facial expressions before going on set?

(Laughs) Some people even embarrass me in the office. They said whether I talk or I don’t, they would laugh. It is my natural personality. I do not make efforts in those roles. I talk when I want to talk and do anything I want to do effortlessly. I do not make any extra effort. It’s just natural. Sometimes when I talk in meetings with my colleagues, they laugh and sometimes, I even get embarrassed at the reason why they laugh, so, I realised that it’s the way I talk sometimes. I do not make extra efforts on that. When it comes to roles that I play, I prepare for them. One must be disciplined enough to prepare for the roles to play and to be able to interpret the character effectively to the audience.

What would you say is the difference between teaching and practising?

It has been a fantastic experience. There is nothing more fulfilling than teaching and practising something that one loves to do. It’s interesting that after teaching and saying what Aristotle and other philosophers said, I go out to practise it.

First of all, it allows me to know the difference between theory and practice. Secondly, it gives me the opportunity to know that some theories only stay in the classroom but are not practicable out there, so, I live in the world of fantasy of the theory, then, the reality of the theory on the field. It’s been a very fantastic experience for me and I thank God that the school where I teach allows me to practise as much as I can, as long as it doesn’t disturb academic activities.

There is no difference between a teacher and an actor. A teacher is an actor who teaches the students within the confinement of a classroom and an actor is also a teacher who teaches his audience outside the confinement of a classroom. There is something that links the two together and that is dissemination of information. The only difference is that it is carried out in different environments.

Do you still teach your students theories that are not practicable?

I attend workshops, seminars, practice, and all that. As I go out, I gain more experience and my teaching methodology is enhanced, so, when I come to school, I have more experience to teach my students, and my teaching methodology is also enhanced.

Did you grow up in a city?

I was born in Adegbola, which is a farm settlement in Iseyin (Oyo State), where people from Ibadan, Abeokuta, and some other places settled as farmers. My dad also settled there and once in a while, they went to Iseyin for one festival or the other. So, the first nine years of my life were in Adegbola. At age nine, I moved to Iseyin and attended the Baptist Day School for my education and then I attended Koso Community Grammar School for my secondary education.

Later, I attended the University of Ife, now Obafemi Awolowo University, where I studied Theatre Arts. I obtained a master’s degree at the University of Ibadan in Theatre Arts. I went to study for my master’s then because I didn’t want people to think I wasn’t brilliant. When I saw that my colleagues were going back for master’s, I went for mine too, but at that time, I was already a professional theatre arts practitioner. I guess I was training myself then. The majority of the jobs I got later in life were from contacts I made while in school.

Can you recall how you met your wife?

That’s a long story. I got a letter to work at the Adeniran Ogunsanya College of Education, which became a university last year, and that’s where I still work. I started my job there in 2001 and my friend, Gbenga Windapo, was there. He was teaching Drama minor in Education. There was a day I was with him and I saw one small, fine girl with a hijab walking innocently. I pointed at her to my friend and asked who she was and my friend told me to let her be, that she had been walking alone on the walkway but I said she was the kind of person I wanted. I found out that she had just concluded her final project and came to submit her written project to her supervisor. I monitored her to a point and I was told that she was in the sciences. So, I traced her to her department and her supervisor. When she left her supervisor, I told my friend, Gbenga, to tell her that I wanted to see her in my office. When she came, I told her she was a good girl. (Laughs) I asked her name and all that. Then I told her that as a Yoruba man, I wasn’t supposed to woo her there at that moment but that she should rest assured that the next time, I would do that. One thing led to the other and in 2003, we got married.

What would you describe to be the biggest challenge you have faced in life?

One thing about challenges is that those little ups and downs challenge you to move on. For me, if one does not experience those little ups and downs, life will be boring. What makes life interesting and exciting is the fact that it does not go one way.

In a couple of years, you will retire as a lecturer. What is your retirement plan as an actor?

Well, a theatre arts job does not have a retirement age. (The late) Baba (Hubert) Ogunde, may his soul rest in perfect peace, worked until his death. In fact, he was on the set when he died. My retirement plan is that I want to be a production consultant and a farmer. My parents were farmers and I have been interested in farming for a long time. I have started farming and I believe that before I retire, my farm would have grown bigger. I intend to start a production company. So, at that time, I will even be busier than I am now. The academic work is slowing me down a bit but I enjoy it.

[Vanguard]