This article highlights the prominent role that executive coaching has taken in the context of business school leadership development programs. Coaching is supposed to serve as a safe transitional space to support the professionalization of leadership role development, leading to the opening of new career and even life options. A new positioning of programs as “identity workspaces”, however, target the personality and biography of the individual leader with a promise of transformation and portability. Looking at the implications of this new agenda for executive coaching, a clinical view puts the focus on development support and care, whereas the critical perspective highlights an emerging “governmentality” agenda (Foucault) as a mental map for the leader navigating a neoliberal economy.