If I tell a single person to kill themselves I'm looking at a 14 day ban minimum. If I insult someone based on their race/gender/sexuality/religion, I'm looking at the same. But when your own employee tells that to thousands of your players, he's not getting even a slap on the wrist. Not even being forced into a half-assed apology.
If this asshat keeps his job even a day longer, you might as well unban each and every account locked away because of hate speech or encouraging suicide. And before any overzealous mod locks this for "witch hunting": I'm not directly saying that someone should be fired. I'm just saying that someone working at Riot is happily spewing words they consider unacceptable at the vast majority of their player base and getting away scot-free. How does that reflect on Riot's image, reputation and overall integrity?