This is true for one simple reason: Promotions are not weighed by an impartial algorithm, chosen by sorting, and doled out on a set schedule. They are submitted for consideration and approved by the powerful, when they feel like it, for whatever reasons they feel like.
The further up the hierarchy you go, the less exceptional people are. It's called the Peter Principle. Even if you used to be exceptional at your job, a promotion gives you a different job. And technical skill has almost nothing to do with ability to get promoted.
The only reason women might be promoted more is they're working twice as hard as the men. I'm sure if you asked them, they would rather have been men, when it comes to getting promotions. The bar would be a lot lower.