On November 1, 2016, forty-five Fellows of the American College of Governance Counsel (“College”) met at the New York Office of Gibson, Dunn & Crutcher to discuss and debate the current state of corporate governance. This Report builds on that discussion. Part I is based on the Panel Discussion and Guest Interview.  It outlines key governance themes, trends, and priorities for Boards in 2017.  Part II is based on the Keynote Address by Martin Lipton.  It summarizes a New Paradigm for corporate governance.