This chapter presents the status of leadership development in Russia, with its many opportunities and challenges. It begins with an overview of leadership development globally. The chapter examines the current state and trends of leadership development in Russia according to the principles, and shows to what extent they apply to Russia. It emphasizes the need for organizations to include traditional business education, which in the West is usually seen as part of a pre-leadership development stage. In-company surveys consistently demonstrate that corporate universities are among the most attractive perks organizations offer to their managers. The chapter also examines the challenges using three principle sources of data: the academic research, consulting practice, interviews with executives of Russian companies, and Russian print and Web-based publications. Western multinationals such as McDonald's, Otis elevator, and PepsiCo, all of which entered the Russian market in the late 1980s, brought the concept of inhouse leadership development into the country.