The answer is yes. Change the “or” to “and” and the answer is still yes. 

Even though I’ve been quoted (and I own up to the quotes) that company culture (core values) trumps everything,  I still say the answer is yes.

Let me give you and example to explain my answer:

Several years ago,when I first got started as a business coach and peer group facilitator, I met with a pretty successful business owner operator.  Things going pretty well for him.  But he was a bit unsatisfied with his sales team, in particular, the turnover and the costs of turnover.  We talked about it.  Here’s what I learned. 

He hired only church going Christian, family men for as sales people.  Didn’t matter which church, just that they were regular church goers.  I believe he also extended this beyond Christians only.  This way he felt confident that he could trust them and that they would make good decisions similar to his own values.  Fair enough.  Good way to ensure honesty, fairness, motivation, integrity, etc.  All company core values that were desirable.  What else was he looking for when hiring sales reps?  “Nothing, they either sink or swim.”  He did nothing to determine whether any of them would be successful at sales.  Core Values don’t translate to talent. 
As you can imagine, turnover was particularly high and sales inconsistent.  Not because of lack of values, but because of lack of skill.  You must hire for both. 

Great Core Values but no Talent.  You’ve got a problem. Probably a productivity problem.
Great Talent, but poor Core Values.  You’ve got a bigger problem.  Integrity and teamwork problems.
Have both.  Smoother sailing.  (there are always challenges with employees.  You’ll have good challenges here that are fun to deal with).