Why Has CEO Pay Risen so Much Faster Than Worker Pay?

Arguably the most convincing “smoking gun” evidence that CEO pay is excessive is how it’s risen much faster than median worker pay. In the U.S., CEO pay was $10 million, 350 times that of the average worker in 2013, compared to 40 times in 1980. This seems to debunk any argument that CEOs deserve their high pay because of their talent. CEOs in 2013 were not suddenly any more talented (compared to the average worker) than in 1980, so why is the multiple nearly 9 times higher? Instead, the argument is that the CEO has the board in his pocket, and so dictates an outrageous level of pay to the board