The governance of an organisational knowledge management program is a critical but under-researched area of knowledge management. This paper identifies the governance arrangements in two corporations. Case study methodology is employed to examine the governance structures, processes and relational mechanisms which contribute to the development and strategic alignment of KM. Five factors are identified as crucial in KM governance: level of centralisation, reporting point, business alignment mechanisms, characteristics of the KM leader and the collaboration process with the IT function. Implications of these factors are discussed in light of current KM practices.