Corporate governance has gained significant global attention due to high-profile corporate scandals, excessive managerial compensation, abuse of corporate power, and financial crises such as the one that began in 2007. At its core, corporate governance comprises the rules, mechanisms, and relationships that guide and control management to ensure accountability, transparency, and protection of shareholder interests. It encompasses the interactions between internal stakeholders—such as the board of directors, CEO, and management—and external stakeholders, including shareholders, regulators, and the broader community. Effective corporate governance ensures that corporations achieve their objectives while safeguarding the rights of shareholders and maintaining organizational integrity. This study examines the principles, structures, and roles of key stakeholders in corporate governance, highlighting how governance mechanisms mitigate agency problems and enhance firm performance. By analyzing the dynamics between boards, executives, and shareholders, the research underscores the importance of regulatory oversight and strategic alignment in promoting transparency, accountability, and sustainable corporate success.