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The Board approves and monitors budgets and scientific progress. The majority of the Board positions are available to be filled via election by the members of the incorporated company, the Heart Research Institute Ltd, to represent the corporate and scientific community.

The Board of Governors is chaired by Professor Len Kritharides and comprises a representative of the Deans of the Medical Schools of Australia, nominees from the Sydney Local Health District and The University of Sydney, leaders from the corporate sector, and the Director of Cardiovascular Research of the Heart Research Institute.