The Board of Regents, which is the governing body of the university,  was formally organized in the same year as Villegas appointed the member thereof. The university regents were sworn into office during the historic day of January 9, 1967, and they conducted an election of officers on February 23, 1967. The members of the first Board of Regents were Atty. Carlos Moran Sison, chairman, Dr. Benito F. Reyes, vice chairman, Emilio Abello, Roman F. Lorenzo, Jose S. Roldan, and Primo L. Tongko, members; Fructuoso R. Yanson served as an ex-officio member and Jose F. Sugay as its secretary. Reyes was chosen as the PLM's first president.