Should I put on my CV that I was demoted?

A few years ago, I was promoted to a "team leader" position (team of about 5).
About 18 months later, the company decided to eradicate all the "team leader" roles company-wide, because they realiased that they had too many managers/leaders etc and gave our responsibilities to junior managers. My department already had a junior manager, so I (along with the other team leaders in the company) was demoted. However, I liked my job and didn't want to leave (had other things going on at the time, so wasn't the best time for a job move) and my line manager didn't want to lose me so she pulled some strings and I stayed on the same salary as when I was a team leader.
Now, I am looking for a job move. Should I include in my CV that I was a team leader for 18 months (it shows potential leadership abilities, responsibility etc) or would it be a red flag for employers who might assume it was my fault I got demoted?
Hope this makes sense.