Leichter (Daimon Kogoro in the Japanese version) spent years as an assistant to Kaiba Gozaburo, eventually becoming part of the Big Five. He was positioned as the heir apparent to run KaibaCorp—until Seto Kaiba took over instead. According to Kaiba, Leichter simply didn't have what it took; his strategic thinking was weak and he lacked any real vision of his own. The company needed someone better, and Kaiba made sure he got the job.
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