I don’t see how any of this was the executives fault. They have no idea of computer security and hired people who they thought were competent to handle it.

No, they didn't. The executive in charge had no freaking idea what was going on, at all. As noted earlier in the threads, it was a music major with no experience, they hired a fall guy/gal - please dont say stuff you have no idea about.

What do you think an exec's job is? Watch TV and hope for the best?

Nope, the people that were 2 levels under execs hired them

Execs hired incompetent (or maybe just "profit oriented") management and that incompetence trickled down to the bottom.