Meadow...in any ordinary industry that would make perfect sense. Alas we work for an airline, and as has been said before with regards to bean-counters..they see the cost of EVERYTHING and the value of NOTHING.
In most airlines I've worked for the boys at the top were often like politicians; they liked to be in charge and wormed they way up there. Not too many other candidates were interested, so rather than the cream floating to the top it was usually the plankton. This then became incestuous and promotions were given to those of equal mindedness or of the no-threat lower quality variety. Once in it is always damned nigh impossible to get rid of them. I did hear of one non-UK airline where the pilots demanded and won the Chief Pilot's removal. That had a far more satisfying effect than any 5% pay rise ever could.
There is the other scenario where no one wants the job and some poor unfortunate is cajoled into it
Man management is part instinct and part skill....most management pilots I have known possessed neither in my experience