The aim of this study is to demonstrate the importance of Cultural Intelligence (CQ) in management performance through measurable performance assessment. In an empirical study, “Cultural Intelligence and Management Competencies”, managers provided a self-assessment and their subordinates also reported on their performance. Correlation analysis of the results of this study was used to examine the relationship between managers’ CQ and their Management Competencies. Among the factors examined (CQ, gender, origin, age, work experience, position and education), the level of CQ of managers correlates significantly with their management competencies. Our findings indicate that managers with higher CQ are more effective in their leadership roles, and we conclude that the CQ of leaders contributes to a more positive perception of leadership performance in teams that are characterized by significant cultural diversity.