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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 Leonard Kritharides and comprises nominees from The Sydney Local Health District, the Deans of Medical Schools and The University of Sydney, leading corporate executives, together with the Director of Cardiovascular Research of the Heart Research Institute.