The assumption you are basing this result on is dubious at best. There are few, if any, businesses that can't be improved. So the two pronged assumption that one; the guy is competent and two; he can't find anything to improve, is contradictory. If he is really competent he finds things to improve.
The root problem is that if he is incompetent he makes up things to improve, and there is nothing in place to determine whether he is finding things or making things up, but he was hired anyway. In the real world, unfortunately, that happens all the time. Enamored with the idea of improvement, and unwilling to take any particular responsibility in the matter, some level of management takes a random dive into the barrel hoping to come up with a hire that will do it for them.