Background: A changing world requires strong leadership. The pressure can increase in the event of the effects of a macroeconomic crisis in listed companies, as the demands from primarily shareholders increase. When a company is public, mandates within the leadership become even more important. Leadership in crisis and the crisis management work itself is decisive for how a listed company should instill security and stability. Through the ability to adapt the leadership according to the given situation, the leader can succeed in crisis management and at the same time motivate the employees in an effective way. Purpose: The purpose of the study is to describe and analyze leadership styles in listed companies and whether leadership adapts during a macroeconomic crisis. Method: The study is based on qualitative interview research and has an abductive approach. Literature, newspaper articles and scientific articles form the basis of the study's theoretical frame of reference. The study's empirical material is based on semi-structured interviews with six leaders from different levels and experience. What they have in common is that they all base their leadership experiences from listed companies. Conclusions: Leadership must be adapted in the event of a macroeconomic crisis. As a leader, you should come forward and be extra clear, visible and communicative. If this is not done, uncertainty will arise and employees may find it more difficult to perform. The leader's actions are fundamental in crisis management. In addition, the study shows that the more leadership experience a leader has behind them, the greater understanding the leader has of what adaptations are required from a purely strategic point of view for the interests of the company and the shareholders. The study shows that it is not unusual for a leader who normally adopts a certain leadership style, e.g. transformative leadership style (which means to change), to adopt the authoritarian style with great confidence, when it is necessary to get employees to engage in the company's goals in stressful situations.