OpenAI CEO Sam Altman addressed recent rumors linking the departure of three senior executives to an impending company restructuring, and denied any direct connection between the two events. Speaking at the Italian Tech Week conference in Turin, Altman clarified that the exit had nothing to do with organizational changes the board had been considering for months, Reuters reports.

The announcement that OpenAI’s longtime chief technology officer Mira Muratti was leaving the company came as a surprise on Wednesday. Shortly afterward, senior research officers Barrett Zoff and Bob McGrew also revealed their decision to depart. The same day, reports emerged that OpenAI was preparing to reorganize itself into a for-profit corporation, taking control away from its non-profit board in order to attract more investors.

Altman dismissed the speculation, saying that much of what was being reported was false. He emphasized that the company’s board had been independently discussing the restructuring for about a year as part of OpenAI’s evolving strategy. He further explained that the change in leadership had no impact on these internal discussions.

He has publicly addressed Bob and Barrett’s exit together. He highlighted that the three leaders took independent decisions. Altman explained, “Mira, Bob and Barrett made these decisions independently of each other and amicably.” He said that although the departures were sudden, it was appropriate to coordinate them to ensure a smooth leadership transition.

Altman expressed appreciation for the contributions of the departing executives, and said the organizational change would enable them to be more involved with the technical side of operations, something they had recently had less time for due to their broader responsibilities.

“This change is expected to strengthen OpenAI as the company continues to grow and innovate,” Altman commented. He suggested that the restructuring would simplify the company’s structure and improve its ability to grow effectively.

Altman has already revealed the company’s future leadership structure. Mark will step into the role of Senior Vice President of Research, partnering with Jacob, the company’s chief scientist. “Mark has deep technical expertise, but he has also learned to be a leader and manager very effectively over the years,” Altman said.

Altman also introduced other key leadership roles, including Josh Achiam as the new Head of Mission Alignment and Matt Knight as Chief Information Security Officer. He said that although the changes are happening sooner than expected, OpenAI is ready for this change.