To what extent has the glass ceiling in global governance been shattered? To answer this question, we need to look beyond the numbers on women’s representation and study how far women are perceived as inspiring and visionary leaders in global governance. This article offers an analysis of perceptions of inspiring and visionary leadership in global multistakeholder initiatives from a gender perspective. Based on 467 interviews with participants in a leading multistakeholder initiative, the Internet Corporation for Assigned Names and Numbers (ICANN), it presents four findings: (1) respondents identify more men than women as inspiring and visionary leaders, with the difference roughly corresponding to the share of women in leadership roles; (2) respondents tend to ascribe more leadership attributes to women than to men when explaining why they find them inspiring and visionary; (3) both feminine and masculine leadership traits are appreciated in relation to both men and women leaders at ICANN; (4) female respondents identify more women as inspiring and visionary leaders than male respondents. These findings contribute novel insights into gendered perceptions around leadership and the importance of role models in global governance. They also shed much-needed light on the demands and expectations from leadership in global multistakeholder arrangements.