The best leaders are those who get out of the way and let their subordinates do their jobs without micro managing them, which means that the less work you do as an AM, the better suited you are for the position, because that makes you a better leader. This same logic can be extrapolated all the way up the hierarchy. Randall Stephenson deserves to be the CEO because not only does he do less work, he does anti-work.
If everyone at AT&T were promoted to CEO, we would be infinitely more productive and profitable, since everyone would have the highest possible title but with no subordinates. Doing no work divided by the work that your subordinates do (0 since nobody has any if everyone is the CEO), gives us an equation of 0/0, which is undefined. Since our productivity and therefore our revenue stream becomes undefined, we are legally allowed to report an infinite amount of profit to wall street and give ourselves $100 trillion bonuses.
Interesting thought by @Z418BrW-ezn . Thought this post was definitely worth debating on a thread of its own.