Objective: Effective leadership in academic medicine requires a broad constellation of skills, experiences, and core values. The authors sought to describe and define these. Method: The authors conducted a web-based survey among 132 Chairs of North American departments of psychiatry. Results: Eighty-five Chairs (64%) responded to the survey, the majority of whom were first-time Chairs. Identified leadership attributes included strategic/visionary acumen, interpersonal communication skills, core administrative and academic/technical skills, motivational capacity, personal integrity, and altruism/tenacity. Conclusion: The identified values are consistent with the leadership attributes that are described as necessary for success in the business community. Developing the required skill-set among faculty who aspire to become a departmental Chair is an important commitment for Deans and extant psychiatry Chairs.