What do effective leaders possess that others do not? What separates an effective leader from an ineffective leader? The difference often comes from how the leader is perceived by those who are led. The leader's opinion of his or her own leadership ability doesn't seem to matter much. What matters most is the perception of others - for better or for worse.
When someone talks about a leader possessing Executive Presence, they are talking about the perception that leader creates through how he or she interacts in formal and informal settings, in all modes of communication and in all settings. Executive Presence can, and should be, learned by leaders at all levels.