Leveraging leadership capability is a critical challenge for contemporary organizations. Yet leadership development (LD) remains problematic because the existing multibillion-dollar leadership industry fails to deliver results. This paper contends that the underlying reason for this precarious state of affairs is that current approaches to LD are out of sync with our changing world. To address this problem, this paper offers a new model of “leadership-as-practice development” for consulting psychologists and organizational development (OD) practitioners. The paper provides a rationale for the need for the model based on extant literature, and consulting anecdotal evidence. The paper’s position statement is presented by outlining definitions, assumptions, and perspective. An overview of the evolution of leadership models is discussed with an emphasis on, and critique of, the competency movement and the use of competency-based models as the main approach to LD. Moreover, and taking a practice orientation, the theoretical foundations of the model, which identifies and integrates three components and 42 elements, is described and discussed. Various case examples are presented. Finally, the paper recognizes the limitations of the model and offers recommendations on how to address these. (PsycInfo Database Record (c) 2020 APA, all rights reserved)