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In the era of digital transformation an evolution takes place. Following this, new perspectives concerning leadership are required, especially in virtual teams. Shared Leadership is a promising leadership form to meet the challenges in a virtual team setting. Particularly, studies show that shared leadership increases performance, team creativity and innovative behavior. Moreover, the responsibility is distributed among several, not one individual. Nevertheless, it is unclear, which skills are needed in shared leadership teams and how they could be trained. Therefore, we develop a conceptual framework to pave the way for an empirical inquiry of the skills for and the role of shared leadership. Moreover, we encourage the discussion, whether the current leadership development is still viable and offer practical implications to develop shared leadership.