The activist shareholder is an investor who seeks to exert a significant influence on the strategic and operational decisions of a company in which they hold stakes. The impact of activist shareholders on corporate governance can be both positive and negative. On one hand, they can contribute to improving transparency, accountability, and decision-making within the company. On the other hand, they can also create tensions and conflicts with other stakeholders, such as executives and employees. Our article aims to demonstrate how corporate governance must strike a balance between the interests of activist shareholders and those of other stakeholders, in order to promote effective and sustainable management of the company, as well as the role of activist shareholders in this governance.