Just rewards for leaders of large companies

sir – You report that shareholders of some major companies are objecting to the “excessive” pay of their executives (“Stop vilifying high pay in Britain, City chief urges”, May 4).

Apparently a salary of £1.6million to run a major multinational company is seen as excessive, so I had to smile when I read your list (May 4) of the 10 top-earning athletes, starting with Cristiano Ronaldo on £165million per annum. Indeed, many of our own Premier League footballers earn this “excessive” £1.6million in less than two months.

Should we not get our priorities right and reward the skill and knowledge of those who manage our largest companies, bringing wealth and employment to our country? Terry Lloyd Derby sir – Julia Hoggett, the head of the London Stock Exchange, has said that executives in Britain should be paid more to attract and retain top talent.

Average FTSE 100 chief executive pay increased to £3.9million a year in 2021-22 – roughly 80 times a decent salary for a middle-class working man or woman. Further increases in boardroom salaries would no doubt also push up remuneration for staff below boardroom level.

Huge City salaries have already forced up house prices, resulting in “gentrified” areas and making prices unaffordable for the ordinary worker. A further rise in prices would of course suit the Government, given the resultant increase in tax revenue.

It could be argued that high boardroom pay insulates executives from the fallout of poor decisions. After just two or three years at the top they can walk away from the ruins of a company, never having to work again. Bill Parish

Bromley, Kent