There is! Management would be replaced by cheaper management if it were possible to do so at the same level of quality.

Either corporations are insane immoral pathological paperclip/profit maximizers, in which case any manager would be replaced with a cheaper version or even a algorithm, or they're not and managers aren't worth what they're being paid.

If the CEO or upper management is so fungible, why aren't they being replaced with staff who will work just as hard and effectively for a tenth of the price?