This article examines the governance challenges faced by universities, drawing a parallel between these institutions and business entities. It argues that universities, much like corporations, are structured with boards and CEO-equivalents, but differ in their lack of a profit motive and clear measures of success. This absence of explicit objectives often leads to ineffective governance. It proposes a solution: university board members should be selected for their expertise in overseeing complex organizations and engage actively in governance. The article suggests that the ethical duties and fiduciary obligations of university board members should be analogous to those of trustees in a non-charitable purpose trust. This approach would require them to act independently and in alignment with the university’s mission, potentially leading to more effective governance and accountability. The article concludes by advocating for clearer university missions and a more focused, trustee-like role for university boards, to ensure better governance and address the myriad challenges universities face.

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