I am not referring to promotions in the sense of variable marketing offers, I maintain that those are basically worthless.
However the other sense of the word refers to the improvement in responsibility and salary that appears to be the periodic objective of the typical manager in a large corporation.
There is usually significant competition for promotions within the management tiers of the organisation. I have no comment on specific cases, but these are eventually resolved by some combination of past performance results and future performance potential, external directive laws and internal directive guidelines, justified personal loyalties and unjustified personal prejudices.
As a consultant running my own business, the whole concept is irrelevant to me. A good performance may result in a new contract for a new piece of work. A poor performance means no pay. That's it.