Holacracy Community of Practice Archive, 2015-2019 Community Holacracy Web Site

Shammi, 

The largest circle of the organization may or may not have a Lead Link. 

Article 5 (5.2.1) of the Constitution says, "The Ratifiers may appoint an initial Lead Link of the Anchor Circle. Alternatively, the Ratifiers may leave the Anchor Circle without a Lead Link, and create one or more initial Cross Links to the Anchor Circle in lieu of a Lead Link." 

And if there is no Lead Link? Well, section 5.2.2 says... 

If the Anchor Circle has no Lead Link, all decisions that normally require Lead Link authority become valid outputs of the Circle’s Governance Process. Any Role within the Circle may thus exercise Lead Link authority by proposing a decision as a Governance change for the Circle, using the process and rules in Article III.

Further, in an Anchor Circle with no Lead Link, the normal authority of Roles to autocratically impact Circle Domains (per Section 2.1.2) is revoked. Instead, the Circle’s Roles may only impact its Domains if a Policy explicitly allows the impact, or, alternatively, by proposing the action using the Circle’s Governance Process, exactly as described above for exercising Lead Link authority."

Hope that helps!