The study focuses on the practice and development of principals as learning-centred leaders, as well as their impact on the social capital of individuals and groups within the school. The topic is approached through a framework of Bourdieu’s social theory and his concepts Habitus, Field, Capital, and Agency, thus, critically viewing and analysing leadership and context as well as their interrelationship. The purpose of the study was to find out how principalship is perceived and practiced in international schools context, and how the interplay of agency and structure influences practice and leadership development across the school. The study also investigated the impact of learning-centred leadership on the social capital of groups and individuals within the school, thus, viewing leadership as a social transformation activity.