What is necessary in a leader is a good heart and common sense. Any group of university plutocrats is going to be dominated by overly ambitious, self-important back biters. I six years of college, I met perhaps three professors that I would support for political office.
A leader's qualities should be suited to the times - what works in war doesn't necessarily work in peace and vice-versa.
When all is said, leadership is still a somewhat mysterious quality - but I'll always prefer intelligence to stupidity.