This chapter delves into the theoretical exploration of internal governance within higher education institutions and its implications for the academic profession. It highlights the diverse conceptual approaches to this topic, with a particular focus on the pervasive trend of managerialism in higher education. With a primary emphasis on the contrast between Europe and Latin America, the discussion is centred on the impact of governance changes on the academic profession and the evolving dynamics of decision-making faced by academics and administrators. A major conclusion of this chapter is the observed institutional fragmentation resulting from the implementation of a new university agenda, one of the primary challenges for institutional leaders, underpinned by the managerial model.