Leadership theories have underpinned significant leadership studies and practices which span decades. Despite the plethora of research on different leadership theories and styles, there is minimal research exploring the relationship between previous leadership theories and the ethical leadership style. Previous research has shown that the ethical leadership effect goes above and beyond other leadership styles and theories as the latter lack an exclusive ethical focus. Therefore, this paper aims to address the identified gap from a preliminary perspective of previous leadership theories as compared to the ethical leadership style. In addition, ethical leadership is the ‘only’ leadership style that is part of the King IV code and report on Corporate Governance in South Africa. The study is built on previous research conducted on leadership theories in relation to ethical leadership and corporate governance as per the King IV report. The method employed involved conducting a historical narrative review of research from more than 60 relevant sources obtained from different databases and search engines on this topic. The paper found that a relationship exists between historical and contemporary leadership theories, contemporary theories and ethical leadership style, and ethical leadership and corporate governance. Stemming from these results, a conceptual model of the relationship between leadership theories, ethical leadership style, and Ubuntu ethics is shown. It is hoped that different types of organizations in South Africa will benefit from this review paper since most need to comply with the King IV report and code. The focus should be on ethical leadership as it promotes better employee performance and positive organizational outcomes.