The author suggests that increasing diversity in the roles, demographics, and institutional homes of faculty is the most consequential factor bedeviling the leadership of the faculty enterprise and, therefore, any transformation of the academy. He believes that to overcome the pressures pulling the academy apart, presidents and provosts, governing boards and legislatures, foundations and associations should commit to the cultivation of leadership from the faculties and by them. Countervailing trends in faculty development and academic leadership are making the ground fertile for change. Three trends that are deeply significant are: (1) the increasing complexity of the academic profession and population; (2) the gradual recognition of (and investment in) faculty as career-long learners; and (3) the ascent of the chief academic officer and spread of sub-specialists in the provost's office who must lead through collaboration. The author calls for a reinvigoration of faculty shared governance and recommends that all boards establish institutional leadership development committees focused on cultivating faculty and managing presidential transitions.