Is there one single explanation for the outstanding and continuing success of the hidden champions? If I had to choose one, it would without a doubt be the personalities at the top. Many of them are founders, but following generations of leaders have often made a lasting impression on me. What characterizes the leaders, their systems, and styles in these companies? Roughly two thirds of the hidden champions are still family-run, but the role of managers who are family members is declining. A particularly notable feature is the leadership continuity, based among other things on the appointment of leaders to top positions at an early age. On average, CEOs of hidden champions remain at the top for 20 years. Female leaders play a significantly greater role than in large public corporations. In contrast to the internationalization of the business itself, the internationalization of top management is still in its infancy, but it is already well advanced in some companies.