This is a no brainer. Of course I’d hire him. And anyone that thought otherwise would be shown the door.
Hiring is mainly about getting the best possible people. More qualifications is good. There’s no such thing as “over qualified.”
It’s really dependent on the personality of the overqualified person. Assuming they genuinely want the job and aren’t to proud to stoop to a level they’ve already worked through, it can work out great. You get a super-qualified (not overqualified) worker and have a chance to “interview” them over a long time period and when a position they’re more suited for comes up, bam! they’re in.
OTOH, and I’ve seen this from personal experience, overqualified people have a tendency to be arrogant and sullen. What’s worse, since they feel overqualified for their current position, it’s tempting for them to want to stray and work on other stuff. Positions exist because there’s a role that needs to be done.
If the MBA working at my french fry machine can do a six sigma effort with time-motion analysis and improve the efficiency of my hypothetical McDonalds, that’s great, but not if the fries aren’t getting made.