In these uncertain economic times, leadership is among the most frequently used (and misused) terms in public discourse. And the vast literature on this topic certainly encompasses considerable discussion of the policies and practices that can equalize leadership opportunities for women and people of color. In reviewing the status of women in leadership positions in higher education, however, it is apparent that despite this work, women continue to be a largely untapped resource, at least in the upper echelons of administration and policy-making. For women who seek appointments as presidents, chancellors, or trustees on college and university governing boards, the glass is less than half full. Since diversity is typically part of institutions' mission statements, the author hopes to initiate a dialogue among trustees on the underrepresentation of women on higher-education governing boards and what might be done to increase their numbers.