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This article is based on recent Ph.D research. The practices for appointing Vice Chancellors (VC’s) in Australian Universities were examined, together with the changing role of the VC and new demographic patterns in VC backgrounds. A number of other issues were also examined, including the training and preparation of VC’s, mentoring and the changing skill base required to be effective in the role. In addition, the paradox was investigated of appointing academics from the ranks of individuals with non‐business backgrounds, to run large enterprises which are being compelled to adopt an increasingly business‐oriented focus.

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