I think one would want a mix of both. You want to promote internally so you have some people higher up who understand the business deeply in ways that an exter

I think one would want a mix of both. You want to promote internally so you have some people higher up who understand the business deeply in ways that an external hire would not as well as promote retention and reward going above and beyond by having career growth opportunities available, but you also want to hire externally to ensure you are getting an influx of new ideas that have been working at other companies.