Students of the Erasmus University Rotterdam, in collaboration with consultancy firm Squarewise, conducted a study that maps the interaction between leadership and the change that characterizes the 21st century. Three trends emerged to characterize this change: internationalization, horizontalization and technologization. The trends were validated using interviews with an international selection of leaders. At the same time, necessary leadership characteristics that enable these leaders to operate effectively within these trends were identified. The study so far provides no basis for translation into new leadership models but gives rise to further research. The final presentation of the Erasmus students can also be downloaded from the website www.squarewise.nl.