Your reluctance to even include this page in the first place is quite clear. The motivation behind that reluctance is somewhat less so.
"About Us" pages, specifically the photos + brief bios of the key staff, are common, for good reason; they serve several different, valid purposes:
- They can reassure the user that the company is a real one, staffed by real people, not a faceless corporation or fly-by-night one-man operation.
- If the company has key staff who are well-known, or known within their niche, this is a fine and unobtrusive opportunity to showcase this fact.
- It can serve as an ego boost and mild perquisite for the staff involved. Which is fine. There's nothing wrong with this. Everybody deserves a little ego boost now and again, and the humanizing effect of giving staff members their little slice of the spotlight can be a valuable one.
- It's an opportunity to do some image management for the company: carefully crafted text (and photography) here can give a picture of the company as a whole -- or the image of that company you wish to present -- as well as the specific individuals being described.
- A subset of users are absolutely going to read every single word of this page: potential investors, potential acquirers, potential business partners, and potential employees. These are, it hardly needs saying, a very important subset of users, worth catering to.
Are the majority of users likely to read through every bit of text on this page carefully and in detail? No, of course not. Does that mean you should hide that text or abbreviate it in the interest of not 'wasting space'? Nope. There's infinite space available. If some of your content is getting in the way of other content, that's a design or layout problem, not a content problem.
There's a certain amount of implied contempt for your audience in your statement that "people don't read". People do read, clearly. They read differently online than they do textbooks, or newspapers, or any other text medium; that just means you have to write text that suits how people do read in each context. Short blurbs, such as, say, staff bios, are a great one for online.
Remember one of the reasons why you have a website in the first place: it's to market the company. This page is an opportunity to do exactly that. Don't hide it, make use of it!
Or if none of that grabs you, remember that revealing text only on hover writes off anyone on a mobile, assistive, or touchscreen device. That alone should be reason enough to not do that.