Contrary to popular belief, the organizational environment of so-called “liberated” companies does not eliminate the exercise of management; it proposes a new form of leadership that is exercised through new roles outside the hierarchical structure, which has disappeared. Based on the results of an exploratory study conducted as part of a DBA doctoral research project, the purpose of this article is to present the singularities of the leadership model implemented in a company in the process of liberation. We begin by describing the new managerial roles and the changes brought about by the new model. Then, we analyze the different adaptation strategies adopted by managers in the face of the changes in their profession. We conclude with a presentation of the challenges of implementing this new leadership model.