The public holds college and university governing boards accountable for the selection and performance of institutions' presidents, and the simple truth is that boards will not find the leaders they need in the coming years without changing how presidents are prepared and selected. Three factors account for this--the aging of current presidents will lead to unprecedented turnover in presidencies; there are not enough qualified presidential candidates in the pipeline to fill the anticipated openings; and the demand for top candidates will result in intense competition among institutions. Boards can prepare for these problems by engaging now in succession planning. A key part of such planning should include overcoming the bias against internal candidates. Offering professional-development opportunities for promising internal candidates in the ranks of both administrators and faculty members can be crucial to ensuring that institutions will not be disrupted by leadership transitions. Additionally, institutions must make a focused effort to hire, train, and promote more minority and female faculty and staff, and to move interested tenured faculty through the leadership track more quickly. Reviewing and tweaking the traditional path to the presidency will open it up to new, promising candidates.