AGB President & CEO Update: Reinforcing Fiduciary Duty to Strengthen Governance

You are viewing the Institution and Systems version of this CEO Update. An Institutionally Related Foundation version is also available.

I hope you had a chance to enjoy the holiday break and take some time to rest and recharge.

As we begin 2026, many of us will set out to build healthier habits for the new year. Lasting improvement, however, will not come from a single action but from a steady, ongoing commitment. Governance is no different. Effective boards are built through continuous learning and reinforcement of core principles. Central to this work is a shared and evolving understanding of fiduciary duty, not a one-and-done trustee onboarding exercise. Effective boards embrace a disciplined, ongoing commitment to the principles of fiduciary duty that enable institutions to advance their missions and strategic priorities with clarity and integrity.

As you know, board members carry significant responsibilities to their institution. They are responsible for ensuring mission fidelity, stewarding financial sustainability, safeguarding institutional reputation, and positioning the institution for long-term success. They must do all of this while navigating a continually evolving higher education landscape. Regularly revisiting and deepening understanding of fiduciary duty is essential to effectively govern through this complexity.

Presidents and board leaders can support effective governance by:

Integrating educational programs on fiduciary duty into regular board development.
Reinforcing governance principles at key decision points.
Creating opportunities for reflection on how fiduciary responsibilities intersect with mission, strategy, and risk.

This ongoing commitment will help boards remain aligned, informed, and prepared to make sound decisions even in the most challenging environments.

Presidential Leadership Requires Board Partnership

The pressures on institutional leaders are immense, and the most successful presidencies result from strong, trusting partnerships with their boards. Presidents, regardless of experience, cannot lead effectively without the full support of the board, and I encourage all boards and presidents to commit to strengthening their relationship in the new year.

To provide this support:

Boards should proactively ask presidents what they need, especially given the extraordinary demands placed on today’s leaders.
Board chairs should establish consistent channels of communication with their presidents, cultivating a relationship based on transparency, shared goals, and mutual respect.
Both presidents and boards should invest in understanding each other’s roles and constraints, reinforcing a culture of collaboration rather than oversight alone.

AGB Resources to Strengthen Board Governance

AGB Board Member Orientation—An indispensable introductory or refresher learning program on higher education governance, essential board responsibilities, fiduciary duties, and boardroom culture.
AGB’s Knowledge Center on Fiduciary Duties—Guidance for college and university boards on their legal and ethical fiduciary duties to help ensure board decisions align with institutional mission and comply with the law.
AGB-Facilitated Board Workshops and Retreats—Expert-guided development, reflection, and alignment to strengthen governing boards’ capacity to uphold fiduciary duty and implement leading governance practices.
AGB Institutes for Board Leaders and Presidents—Intensive programs that strengthen the partnership between presidents and board chairs, helping build the trust and clarity essential for effective governance.
AGB’s How to Govern for Institutional Autonomy: A Practical Guide for Higher Education Boards—Governance best practices, diagnostic tools, checklists, sample resolutions, and curated strategies grounded in fiduciary duty and mission-centered leadership.
AGB’s National Conference on Trusteeship—A convening of higher education leaders offering community, fresh perspectives, and practical strategies for addressing higher education’s challenges and opportunities.

Looking Ahead

By investing regularly in fiduciary education and strengthening the partnership between boards and presidents, institutions will be best positioned to thrive in the rapidly shifting landscape in which higher education operates.

Happy new year and thank you for all you do to advance higher education.