Quick Brief
- The Appointment: Anthropic named Mariano-Florentino Cuéllar former California Supreme Court Justice and current Carnegie Endowment President to its Long-Term Benefit Trust (LTBT), an independent body with power to select board directors.
- The Power Shift: The Trust will elect a majority of Anthropic’s board within four years, with trustees holding no financial stake in the company.
- The Transition: Two founding trustees Kanika Bahl and Zachary Robinson concluded their terms after helping establish the Trust’s governance framework since 2023.
- The Context: The appointment strengthens governance oversight as AI systems become more capable and AI’s role in geopolitical competition intensifies.
Anthropic announced January 19, 2026, the appointment of Mariano-Florentino Cuéllar to its Long-Term Benefit Trust, a Delaware-governed independent body designed to help the company achieve its public benefit mission. Cuéllar, who serves as President of the Carnegie Endowment for International Peace and previously sat on California’s highest court, brings experience in technology policy, democratic governance, and international security to the role. The appointment coincides with the departure of two founding trustees who helped select board directors including Jay Kreps and Reed Hastings.
Governance Mechanism: How the Trust Controls Anthropic’s Board
The Long-Term Benefit Trust operates as a “purpose trust” under Delaware common law, a structure managed for achieving specific objectives rather than benefiting financial stakeholders. The Trust holds Class T Common Stock, granting it the power to select members of Anthropic’s Board of Directors and will elect a majority of the board within four years. Trustees serve one-year terms with no financial interest in Anthropic, and new trustees are selected by existing members in consultation with company leadership.
The Trust’s structure includes advance notice rights for board actions materially affecting company operations. Amendment procedures allow changes through trustee-board agreement or supermajority stockholder votes as a failsafe mechanism.
Cuéllar’s Strategic Profile for AI Governance
Cuéllar’s career spans three presidential administrations, California’s Supreme Court (where he served as a Justice), and leadership of Stanford’s Freeman Spogli Institute for International Studies before joining Carnegie in 2021. His technology governance credentials include co-leading California’s Working Group on AI Frontier Models with Fei-Fei Li and serving on the National Academy of Sciences Committee on Social and Ethical Implications of Computing Research. He currently chairs the William & Flora Hewlett Foundation board and will step down from Carnegie in July 2026 to return to Stanford, where he will lead the Center for Advanced Study in the Behavioral Sciences and Knight-Hennessy Scholars Program.
Neil Buddy Shah, Trust Chair, emphasized the appointment addresses AI’s role in “geopolitical competition reshaping economies, security, and the balance of power between nations“. Cuéllar stated the governance structure marries “private sector dynamism with civic responsibility” as AI systems evolve.
Trust Evolution Since 2023 Launch
| Aspect | Initial Structure (2023) | Current State (2026) |
|---|---|---|
| Board Control | Selects directors | Will elect majority within 4 years |
| Initial Trustees | 5 founding members | Shah (Chair) + Cuéllar announced |
| Board Appointments | Initial formation | Jay Kreps, Reed Hastings added |
| Financial Stake | Zero equity interest | Unchanged |
| Trustee Terms | One-year renewable | Unchanged |
The Trust was initially comprised of five Trustees when established in 2023: Jason Matheny, Kanika Bahl, Neil Buddy Shah, Paul Christiano, and Zach Robinson. Jason Matheny stepped down in December 2023, and Paul Christiano stepped down in April 2024, with replacements to be elected by the Trustees in due course. Kanika Bahl (CEO of Evidence Action) and Zachary Robinson (CEO of Centre for Effective Altruism) completed their founding terms in January 2026, with both stating Anthropic has sustained its commitment to safety despite scaling pressures.
The Trust was established as Anthropic structured itself as a Delaware Public Benefit Corporation, a legal framework requiring directors to balance shareholder returns with public benefit mandates.
Strategic Implications for AI Development Oversight
Anthropic’s Public Benefit Corporation structure enables long-term safety considerations to inform development decisions alongside financial incentives. Daniela Amodei, Anthropic President, highlighted Cuéllar’s “ability to work across sectors law, government, academia, and technology” as critical for systems becoming more capable. The Trust’s purpose-driven structure aims to ensure development decisions “remain grounded in the broader public interest” as capabilities advance.
Kanika Bahl, departing trustee, noted that “Anthropic has continued to invest in safety and demonstrate an unwavering commitment to responsibility even as the company has scaled,” while Zach Robinson emphasized that “the Trust has proven effective in ensuring Anthropic’s governance balances innovation with caution“.
Frequently Asked Questions (FAQs)
What is Anthropic’s Long-Term Benefit Trust?
An independent Delaware purpose trust with power to select Anthropic board directors (will control majority within 4 years) and help achieve public benefit mission, with no financial stake.
Who is Mariano-Florentino Cuéllar?
Former California Supreme Court Justice, current Carnegie Endowment President, and technology policy expert who co-led California’s AI Frontier Models working group with Fei-Fei Li.
How does the LTBT differ from typical corporate boards?
Trustees serve one-year terms without equity compensation, are appointed by peers in consultation with Anthropic (not shareholders), and prioritize public benefit under Delaware PBC law.
Why did two founding trustees leave?
Kanika Bahl and Zachary Robinson completed their planned terms after helping establish the Trust’s governance framework and appointing board members since 2023.
Can the Trust be overridden by investors?
Amendment provisions allow supermajority stockholder votes to modify Trust powers as a failsafe, though most changes require trustee-board agreement.
