Implicit in all these diversity pushes is a fixed-sized pie mentality. In that world-view, the only way to increase diversity is to replace white[1] executives with non-white ones. I'm not keen on the long term prospects of a company that is making its senior leadership hiring decisions based on a fixed-sized pie mindset. Frankly, while I'm not a fan of the racial discrimination aspect either, the lack of a growth mindset is what really predicts failure.
[1] The status of South and East Asians isn't entirely clear to me here. In my time in big tech I never noticed a shortage of South Asian senior leaders, so I suppose maybe they're no longer considered diverse? As for East Asians, every single one I've personally worked with is a big fan of meritocracy. Perhaps that's because they believe they will do well under those rules.
If you consider a certain threshold of match interchangeable then it makes sense. You're going to have bad hires no matter what. Complaining about fixed-pie replacement because one is a minority is not acceptable. The hiring committee probably worked hard to vet them, but things still go wrong, particularly if the organization trashes the person's incentives.
Furthermore, a large part of most orgs is fixed-pie.
[1] The status of South and East Asians isn't entirely clear to me here. In my time in big tech I never noticed a shortage of South Asian senior leaders, so I suppose maybe they're no longer considered diverse? As for East Asians, every single one I've personally worked with is a big fan of meritocracy. Perhaps that's because they believe they will do well under those rules.