AGB President & CEO Update: Staying Grounded amid Turbulent Times (Foundation)

You are viewing the Institutionally Related Foundation version of this CEO Update. System and Institution versions are also available.

As we approach the upcoming national elections, you may, like me, have an impending sense of unease. The challenges ahead—potentially wide political shifts, increasing scrutiny, and heightened expectations from all sides—can leave one feeling unmoored. This uncertainty is not unique to the United States. Instead, it echoes across higher education institutions worldwide. In my time as a university president, executive vice chancellor, and general counsel, and as a board member, I know what it is like to feel pulled in a dozen different directions.

Despite these challenges—or perhaps because of them—we must remain steadfast in our commitment to governance principles. In this moment, more than ever, trustees must be guided by the core tenets of their role—staying true to their foundation’s mission and remaining a true fiduciary—while preparing for whatever may come.

Why It Matters: Board members are the champions of higher education, accountable not only for its present but for its future. And that is no small responsibility. It means listening when the voices around you are loud and divided. It means having the courage to make difficult decisions that may be unpopular in the moment but serve the greater good. It means taking the long view—thinking holistically about how the choices you make today will shape your students tomorrow, all the while holding fast to the core tenets that keep you focused.

Consider the “tethers” that will help ground you during uncertainty.

Fiduciary duties are the bedrock of board service. Every action you take should prompt the question: “Is this in the best interest of my institution and all its stakeholders—students, faculty, staff, and the broader community?”  This is the lens through which the board should view all decisions.

• Duty of Care: Show up fully prepared and engaged. Make thoughtful, informed decisions.
• Duty of Loyalty: Guarantee that any decisions the board makes serve the institution’s best interests, free from conflicts of interest.
• Duty of Obedience: Ensure the foundation remains true to its mission and compliant with legal obligations.

In times of turbulence, a board member’s commitment to the AGB Principles of Trusteeship is crucial. These principles not only ground decision-making but promote resiliency, no matter how noisy the external environment.

• Understand governance: Understand the roles and responsibilities of board members, especially as distinct from the roles and responsibilities of the CEO and administration.
• Lead by example: Think independently while acting collectively; champion justice, equity, and inclusion; and demonstrate integrity.
• Think strategically: Be inquisitive and open-minded while focusing on what matters most.

By staying true to these principles, you are not just guiding your foundation through present challenges—you are ensuring its long-term success.

Go Deeper

AGB has developed resources to support you in these critical times:

• AGB Principles of Trusteeship: More about board member best practices.
• AGB Board of Directors’ Statement on the Fiduciary Duties of Governing Board Members: Explains fiduciary responsibilities in more detail.
• AGB Board of Directors’ Statement on Influences Impacting Governing Board Independence and Leadership: More about the importance of board independence.
• Trusteeship Magazine Article: “United We Stand”: The importance of effective higher education governance in a democracy.
• Podcast: Board Independence Under Fire: Parts I and II: Hear three experts discuss the importance of board independence.
• AGB Foundation Leadership Forum (January 29–31, 2025): The Foundation Leadership Forum will offer sessions dedicated to understanding the ramifications of the elections, engaging in board advocacy, and leveraging higher education to the benefit of democratic ideals. Register here.

These resources offer not only knowledge but actionable insights to help you maintain effective governance during turbulent times.

As you prepare for the months ahead, I encourage you to reflect on the following questions:

Questions for Board and Committee Chairs:

• How are you ensuring that fiduciary duties are guiding your every decision?
• How can your board foster independence while continuing to engage with stakeholders?

Questions for Board Members:

• How are you demonstrating your commitment to your fiduciary responsibilities?
• How do you keep fiduciary duty and your core principles at the center of your decision-making? Consider using a visual reminder, such as this placemat, during board meetings. The digital version is a complimentary member-exclusive resource.

Questions for CEOs and Senior Leaders:

• What steps can you take to strengthen your partnership with the board during times of upheaval and uncertainty?
• How are you determining what context to share with board members?

In uncertain times, it is easy to fall into the weeds and replace the important with the urgent. However, by recommitting to fiduciary responsibilities and the AGB Principles of Trusteeship, boards can stand firm with strength and purpose. Remember, you are part of the larger AGB community—lean on each other and on the resources available through AGB as you navigate these turbulent times. Together, through strong leadership and collective wisdom, we can ensure that higher education continues to thrive.

Until next month,

Fram Virjee