Read the fine print:
Disclaimer
This is not an official election. The winner is not guaranteed to be promoted to Global Moderator, however he/she will be suggested to theymos to be promoted. This is only to determine who the community wants as a Global Moderator. Theymos may choose to promote the winner of this election, he also may not. He may choose to promote no one, he may choose to promote someone else.
Well, that does make more sense. If Theymos won't promote any of the participants who won the election, I still am pretty sure that he would at least able to consider the needs of a new active mod and find someone else he could.
EDIT: i am trying to think if someone would be promoted to global mods the staff position would be lacking