The role of the elementary principal is more challenging and complex than ever before. Principals are not only expected to be strong leaders, but they are expected to practice shared leadership with their various constituent groups. The ever-changing responsibilities of the position have contributed to disparate views on the role of the principal. Different constituent groups vary in their perceptions of an effective principal. The better a principal understands the perceptions and expectations of the various constituent groups he or she serves, the more likely it is that a principal can fulfill the expectations and be perceived as effective. This study identified the perceptions of parents and teachers with regard to the characteristics of an effective elementary school principal. An inventory was used as the primary source of quantitative data for the study. Qualitative data was gathered through participant responses to a series of open-ended questions relating to five leadership themes interviewed within the inventory. Twenty-nine parents and forty teachers from three separate primary schools (grades kindergarten through three) within one school district were surveyed.