Trustees and presidents are recalibrating governance priorities as turnover pushed up compensation for private‑college presidents in 2023. The Association of Governing Boards’ National Conference on Trusteeship will convene March 28–30 to press boards to balance stewardship of legacy assets with long‑range innovation. Analysts attribute 2023 pay spikes to an expensive year of leadership transitions at small private colleges; boards face pressure to align presidential selection, oversight of student success metrics and financial sustainability. The AGB’s conference agenda emphasizes trustees’ fiduciary role in a volatile enrollment and political landscape. Who’s involved: AGB, trustees, private‑college presidents and higher‑education compensation researchers. Why it matters: trustees’ decisions on presidential hiring, compensation and strategic priorities will drive institutional responses to enrollment declines, campus political conflicts and financial stress.