Exults over old Labour leader’s wrinkle (5-4)

I believe the answer is:

crows-foot

'wrinkle' is the definition.
(crow's foot is a kind of wrinkle)

'exults over old labour leader's' is the wordplay.
'exults' becomes 'crows' (both can mean to brag or behave triumphantly).
'over' is a charade indicator (letters next to each other) (in a down clue, some letters go over others).
'old labour leader' becomes 'Foot' (Michael Foot, former leader of the Labour Party).
'crows'+'foot'='CROWS-FOOT'

I've seen this clue in The Times.

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