Is prejudiced leader replaced at last? (6)

I believe the answer is:

exists

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'is' is the definition.
The answer and definition can be both to do with fundamental existence as well as being verbs in their -s form.
Maybe they are linked in a way I don't understand?

I don't understand how the remainder of the clue works.

Can you help me to learn more?

(Other definitions for exists that I've seen before include "Has objective reality" , "Is extant" , "Has life" , "Lives" , "Is present in the real world" .)

I've seen this clue in The Sunday Times.

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