Let be the set of derangements of [n] with k excedances and d(n,k) be the cardinality of . We establish a bijection between and the set of labeled lattice paths of length n with k horizontal edges. Using this bijection, we give a direct combinatorial proof of the inequalities d(n,k−1)d(m,l+1)<d(n,k)d(m,l) for n≥m≥1 and l≥k≥1. Moreover, we prove the interlacing log-concavity of the sequences {d(n,k)}0≤k≤n. By a similar combinatorial structure, we show that the Eulerian polynomials possess these properties.