This paper examines links between the cultural embeddedness and current managerial response to leadership excellence in a change environment in the context of Bangladesh. The study was performed for the years of 2009 and 2014. To explore the link between culture and managerial response, factor analysis, regression and structural modelling using SPSS V22 and AMOS V22 are employed to explain what constitutes managerial leadership excellence in Bangladesh. The results, based on the perceptions of 660 Bangladesh managers, suggest that managers are receptive to behavioural changes demanded by the environment. In particular, empathy has a negative relationship with the Excellent Leader response in 2014 compared to 2009, thus suggesting environmental changes influencing managerial behaviours. Future research should explore further the time and etic influences on leadership.