Governance Remodeling Project

Notice of Member Vote

AACSB's board of directors has recommended changes to its bylaws to reflect the global nature of AACSB membership and uphold leading governance practices. Official representatives from member organizations will be asked to vote at the Business 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.

We encourage you to view the Proposed Amended and Restated Bylaws in advance of this meeting and contact [email protected] if you have any questions. If approved, the amended and restated Bylaws will be effective July 1, 2026.

Why the Change?

• A comprehensive governance review is critical as it impacts how the board informs and directs the activities that achieve an organization's objectives.
• It has been several decades since a full review was conducted, and the current bylaws are rooted in a much smaller, US-based organization.
• Updated bylaws need to reflect AACSB as a global organization with increased engagement between the board and stakeholders.
• Improve decision-making, transparency, and accountability with better communication to strengthen integrity and trust.
• In February 2024, the Board charged the Articles and Bylaws committee with conducting a comprehensive review. Five member town halls were conducted, with strong overall support of the proposed changes.

Key Changes

• More transparent and accountable decision-making with a well-defined, competency-based board of 13-17 directors.
• 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 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.
• Modernized member voting, quorum, and meeting rules, including clearer proxy use and more flexible business meeting requirements.

Full List of Amendments and Restatements

• The Amended and Restated Bylaws open with a section of Defined Terms for clarity and transparency.
• Board of Directors reduced in size to 13-17 board members (currently up to 30).
• Governance structure to be strengthened through a newly formed Governance Committee and expanded Audit and Risk Committee.
• Standards for Business Education to be maintained by a new Global Standards Committee, with the new Global Accreditation Committee overseeing accreditation policies.
• The Nominating Committee is appointed by the Board, and includes the chairs or designees of each of the regional advisory councils.
• The Nominating Committee shall nominate candidates for Directors to be elected by the Members in an uncontested election; currently elections are contested.
• Clearer officer vacancy policies, providing a strong succession framework.
• The Board may create standing and ad hoc committees subject to the provisions of the policy governance manual.
• Clearer language around the Accreditation Council, its members, and voting rights.
• Members may designate a proxy in the case of a member vote. A proxy must be an individual serving in a bona fide leadership position within the same member organization.
• Member meeting notice strengthened; at least 60 days for place/date/time and at least 20 days for purpose. No standing annual business meeting requirement; instead, the Board may call Member/Accreditation Council meetings from time to time.
• The Amended and Restated Bylaws create clearer guidance on indemnification of Board members and other AACSB volunteers consistent with modern governance.

What Hasn't Changed

• AACSB's commitment to its mission and values.
• Who AACSB’s Members are at core. Members are Organizations—Educational and Business—represented by an official representative; each Member has one vote on matters put to Members.
• Board-centered organizational oversight. The Board remains the overarching policy-making body of AACSB, responsible for overseeing the organization, supported by officers, committees, and staff.
• Globally engaged board that is reflective of the character of the membership, striving for efficient and effective decision-making.
• The four Board officers: Chair, Vice Chair-Chair Elect, Secretary-Treasurer, and President and CEO.
• Board members may serve up to two consecutive terms, with extension of Board service permitted for service as an Officer.
• Educational member dues remain subject to member approval.
• Accredited Members have final authority for approval of the standards for business education and accreditation, with accounting standards voted on only by Members holding acounting accreditation.
• Revisions to the Bylaws to be approved by the Members.

Town Hall Conversations

AACSB hosted a series of member town halls to share a draft governance model.

Recorded Sessions: 

AACSB members were invited to join any of the listed sessions. If a session has passed, you can still register to access the recording. 

Asia Pacific: May 27, 7:00 pm ET, 7:00 am SGT (This session was not recorded. Please select another session to view a recording.)

Latin America: May 29, 2:00 pm ET

North America: June 16, 12:00 pm ET

Middle East and Africa: June 17, 1:00 pm ET, 8:00 pm EEST

Europe: June 23, 9:00am ET, 3:00 pm CEST