The goal of this study was to develop and test a sequential mediational model explaining the negative relationship of passive leadership to employee well-being. Based on role stress theory, we posit that passive leadership will predict higher levels of role ambiguity, role conflict, and role overload. Invoking Conservation of Resources theory, we further hypothesize that these role stressors will indirectly and negatively influence two aspects of employee well-being, namely overall mental health and overall work attitude, through psychological work fatigue. Using a probability sample of 2,467 U.S. workers, structural equation modeling supported the model by showing that role stressors and psychological work fatigue partially mediated the negative relationship between passive leadership and both aspects of employee well-being. The hypothesized, sequential indirect relationships explained 47.9% of the overall relationship between passive leadership and mental health and 26.6% of the overall relationship between passive leadership and overall work attitude.