Bernie's successor has to be acceptable to the team bosses, F1 is quite a fragile business in a lot of respects and to keep their huge money making machine on track CVC need them onside.
For all his failings Mr E can keep most of them in line most of the time - not I might add just by money or threats, but because they have mutual respect. Also a few have grown very rich by putting their trust in Bernie
Whilst Walsh may have looked good to the business world and CVC the whole F1 mega money machine is based on quite a different model to most industries or corporations.
I don't expect anyone ever to confirm a chorus of disapproval about this from some team bosses, however Bernie's real power comes from his skill in marshalling whoever and whatever is necessary to get his deals, or dastardly deeds, done.