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Dear Member,

Effective governance is the foundation for trust, transparency, and sustainable success. The current AACSB governance model was established several decades ago, when AACSB was a fifth of its current size and had not yet expanded into a global organization.

Accordingly, in February 2024, the board of directors initiated a comprehensive review of AACSB's governance, grounded in member input and rigorous analysis. Drawing on a number of activities conducted over the course of 18 months, including several sessions of the board, a two-day remodeling summit with regional representatives, data collection and benchmarking, and five regional membership town halls, this work has culminated in an updated governance model and revised bylaws: an organization's legal framework outlining its purpose, membership rights, board structure, and amendment provision. The bylaws do not include detailed operational policies which are outlined in the Policy Governance Manual. 

Based on this collaborative and data-driven remodel, AACSB's board of directors has recommended changes to its bylaws to reflect the global nature of AACSB membership and uphold leading governance practices. The proposed bylaws are enclosed for your review. If approved, the amended and restated bylaws will be effective July 1, 2026.

No changes have been made to the members’ rights.

Key changes

• More transparent and accountable decision-making with a globally represented, competency-based board of 13-17 directors (currently up to 30).
• Modern and cost-effective structure with right-sized board and governance activities.
• Stronger regional voices with the nominating committee composition to include regional advisory council chairs.
• New ways to contribute through agile and focused task forces and advisory roles.
• Global, more resilient structure for long-term success, enabling the board to create committees based on the organization's needs.

A full list of changes, the governance remodel project details, and the proposed Amended and Restated Bylaws can be found on the AACSB website.

AACSB Member Meeting and Vote

Official representatives from member organizations will be asked to vote on the amended and restated bylaws at the Member Meeting which will be held in conjunction with the Deans Conference on Monday, October 20, at 1:15 p.m. ET in Toronto, Ontario, Canada.

The AACSB official representative from your member organization may designate one individual to vote on behalf of the organization no later than October 13 by emailing governance@aacsb.edu.

To be eligible to vote, the official representative or designee must obtain a voting paddle on site at the Sheraton Centre Toronto Hotel no later than 11:00 a.m. ET on October 20.

We are deeply grateful for your steadfast dedication to AACSB's mission and look forward to defining the future of business education with you in Toronto!

Joyce A. Strawser
Chair, AACSB Board of Directors
Dean, Seton Hall University

Lily Bi
President and Chief Executive Officer
AACSB International 

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