Does your company mostly hire external manager or groom managers from within? Not asking about directors or VPs.
Depends on the task.
At Intel the preference is to give manager roles to those who are friends with the upper levels regardless of where they come from.
We take our worst engineers and make them managers. The idea is that they shouldn't damage the code. But those managers are insecure and prefer to hire engineers who aren't nearly as smart as them, who come in and damage the code.
Mostly grooms managers from within.