“You make a compelling case for "Why CEOs Get Paid So Much" (Review & Outlook, Nov. 17). But the problem isn't that the Doug McMillons of the world make lots of money.
It's that mediocre executives, or worse, are rewarded for failure.
The apparent lack of correlation between CEO pay and company performance is a consequence of a system stacked in favor of those in the executive suite. The boards of directors who determine the compensation of a company's top executives, though technically elected by the shareholders, are nominated by those in the C-suite and elected in a process that closely resembles that of the old Soviet Union: Everyone gets to vote, but there is rarely more than one choice on the ballot. The fund companies and other money managers who typically control enough shares to influence companies rarely want to oppose the wishes of boards and CEOs for fear of sinking their chances at companies' pension businesses.
Mark M. Quinn
Naperville, Ill.” [1]
1. The Problem With CEO Pay. Wall Street Journal, Eastern edition; New York, N.Y.. 20 Nov 2025: A16.
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