Drawing on the person–organization fit literature and person-categorization theory, we proposed that new executive performance depends on both their self-perceptions as well as their fit as seen by senior executives. Using three-phased, multisource data from newly-hired executives of a Fortune 500 pharmaceutical company across their first six months on the job, we found that senior executive pre-entry person–organization fit expectations of their followers (new executives) are positively related to their postentry person–organization fit perceptions through the partial mediating role of their leader–member exchange relationships. Furthermore, results also revealed that senior executive person–organization fit perceptions were significantly and positively related to new executive in-role and extra-role performance, but only when new executives’ own perceptions of person–organization fit were low.