Stagnating public funding, increasing student enrollments, and a rise in both competition and cooperation with industrial research have forced universities to find new ways of organizing and governing higher education. In order to cope with inherent organizational change, more and more universities adopt business-like leadership and management styles at the expense of collegial governing practices. This recent development receives ample discussion among scholars with respect to the triad of leadership, governance, and management (LGM). On the one hand, business-like leadership and management reflects in today’s dominant institutional logic of a ‘new managerialism’ whereas governance corresponds with the traditional collegialism, on the other hand.