This study examined two potential mediators through which leaders transmit their position power into an effectiveness outcome. Drawing upon recent work integrating trait, situational, and behavioral theories of leadership effectiveness, we hypothesized and tested a model specifying that the interactive effects of leader position power and leader political skill on follower satisfaction would be mediated by followers’ perceptions of leaders’ initiating structure and consideration behaviors. Specifically, this model indicates that leaders who are both in powerful positions and politically skilled are perceived to initiate more structure and demonstrate more consideration for their followers than their nonpolitically skilled counterparts, which, in turn, positively impacts followers’ satisfaction (i.e., an indication of subjective leadership effectiveness). Utilizing 190 leaders and 476 followers, we found support for the hypothesized model. Contributions to various literatures, strengths, limitations, and practical implications are discussed.