Yup. You see this when any org hires a top exec externally: they bring their trusted lieutenants/golf buddies and push out the old brass, and then this repeats down the chain when these hires do the same.

Unsurprisingly, an Indian exec's trusted lieutenants and golf buddies will also be Indian, likely from the same university, caste, etc. They will not be hiring random people just because they happen to be Indian; if anything, there's been plenty of lawsuits over Indians of the "wrong" caste, language group etc getting pushed out.