That executive has lost any human decency and should be fired.
But saying it out loud is another thing, it is, to me, a terrible blunder in terms of communication, and executives who talk like that should 100% get fired. They are the face of the company, what they say and how they say it matters. Maybe it matters even more than the technical part of their job. If they get a pass for saying things like that, that's even worse, because it means that it is what the shareholders and customers want to hear.