Alas, Yes.
But a Definite “Yes.”

(1) I support the Obama pay cap for CEOs of companies on the dole.
(2) My choice would be to cap them at the rate of a 4-star general or admiral, with max seniority.
(3) If you sent all F500 CEOs and their #2s to St Elba, performance of their companies would not on average deteriorate. The "myth of the irreplaceable CEO" is just that—myth.