This qualitative, phenomenological study examined the lived experiences of former K-12 principals who left their leadership positions in favor of non-administrative roles in K-12 education or jobs outside of K-12 education. Principals leaving their roles in K-12 education is a problem because of the significant impact principals have on student achievement, teacher success, teacher retention, and a positive school climate. It is critical, therefore, to understand the experiences of former principals and their perceptions relative to the role. Herzberg's two-factor theory of motivation was used as the theoretical framework for this study. This needs-based theory purports that the factors that influence job satisfaction are different from those that influence dissatisfaction. Eight former K-12 principals took part in semi-structured interviews and were asked to discuss what factors brought them satisfaction in their work, what factors led to their dissatisfaction, and what specific experiences ultimately led to their decision to leave their administrative roles. Six themes emerged from the data. The results of this study contribute to the limited research on the principal pipeline and have implications for how policy makers and district administrators can develop policy and practices that encourage principals to remain in their administrative roles by identifying factors that contribute to the problem of principal turnover. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]