Higher education institutions are no more exception to the change driven by various stakeholders along with other manufacturing and business organizations. The conceptual framework has been developed in this paper which determines role of leader imperative to attain outcome as quality education expectations from stakeholders such as faculties and students of higher education institutions. This paper is based on literature review and in-depth exploratory interview with 30 key informants from top level and middle level management Central University of Rajasthan and private Biyani Group of Colleges, 15 from each. Second section discusses the leadership in higher education and concept of quality education. This paper conceptualizes that leader has a high degree of stakeholder orientation by his moral value-based words, actions, relationships and decisions. It provides implications of study for the incorporation of leadership among academicians of higher education in public and private institutions.