If you're in a senior management position in a company which has any M&A activity, I'd expect you to have at least some understanding of VC basics.

“I’d expect”

That’s my point. People think their context is everyone’s context. You expect the world to be a certain way. Is it?

I'd expect a senior executive who doesn't know anything about basic accounting, M&A, or other skills associated with managing a large company to basically be a bad hire in most cases unless it's some specific skill kept off to the side.