In ethical hacking (and hacking in general), the more you know about software and hardware in general, the better off you are - keep in mind there's a lot of different solutions written in lots of different languages, running on lots of different hardware.
As most operating systems are written in C, it can definitiely be advantageous to at least be able to understand C code. Most OS modules are written in C and/or Assembly.
From this, you can gather valuable intel on any bugs or exploits that may be present in the target OS's various modules.
Regardless of whether you hunt bugs or try to penetrate a system, at least some understanding of C can help you a lot.
In the same vein, knowing at least the more popular languages (Python, Java, C#) can be of immense help as well - lots of systems (including corporate solutions) are written in those languages.
Python does have its own advantages in the hacker toolbox - it gives you the ability to write exploits and programs rather quickly, and has a lot of libraries that can be used to roll your own EH/pentester toolset.