This is a very familiar problem! For feedback, it looks top heavy in terms of executive involvement. I think getting rid of step 3 could be a good beginning, have you thought about moving the VP chats closer to the end? This could help you speed up the process as you won't need VP involvement until the end where you've narrowed down your list of candidates. I found blocking off a recurring spot on their calendar helped with scheduling.
Included the hiring process we ended up with below: 1: Hiring manager/HR does the first interview, narrows down the list.2: Project is sent out to candidate3: Hiring manager reviews the project, narrows down the list. 4: Candidate presents in a larger group (in my previous org it was implementation and success) group asks questions on the project/candidate. Group decides if the candidate moves to the next stage.5: Candidates are brought in to chat with the CCO. 6: If the parties give a green light the hiring process begins. I found 3 weeks was the sweet spot in terms of time to hire. It gave us enough time to vet the candidate without keeping them in limbo.Hope this helps!