Research Findings: This article describes research into leadership practice for school improvement in Hong Kong preschools at a time when there was a move toward increased accountability. Two schools were selected for study, both of which were rated as excellent in the quality assurance inspections of the Education Bureau. Leadership practice for school improvement and related factors were investigated from the perspectives of various school stakeholders. Practice or Policy: The findings indicate that the 2 case study schools adopted different approaches to the process of change. One school principal delegated more to her subordinates and sought a radical change in the curriculum. In contrast, the other school principal imposed more restrictions on the exercise of authority in decision making and delegation and tended to follow the logic of a quick-fix approach. Overall, though the 2 schools adopted different approaches to curriculum change, the exercise of leadership in both schools was still highly centralized. The characteristics of leadership practice as perceived by various school stakeholders were different from the concepts of distributed leadership documented in the Western literature. Copyright © 2010 Taylor & Francis Group, LLC.