Leadership is considered a vital success factor for any KM initiative. Top management leadership enables the effective promotion of knowledge creation and sharing as essential components of knowledge management strategy implementation through creating an appropriate organisational culture. Such culture does not automatically exist in any organisation, but requires nurturing through appropriate governance and specific leadership initiatives. This study examined the roles and responsibilities of top managers with respect to KM strategy development and implementation. It is based on a survey data collected from leading Australian companies in 2005.