Universities are expected to strive for excellence but also for gender balance. Narrow interpretations of excellence in universities hinder women's advancement in academia. In this paper, we ask if there are ways that these policies may be reconciled. Excellence is an "empty signifier" that must be filled with meaning. We have investigated how Heads of Departments enact "excellence" and gender balance in hiring processes in four Norwegian universities. Many HoD argued for broadening excellence criteria and framed excellence as a "collective" rather than an individual concern. This allows for reconciling top-down institutional demands for excellence and diversity while catering to local needs. Thus, our paper suggests that in a context where increased diversity among faculty is called for, this may open up a space for critical reflection about the criteria for assessing academic quality.