Proven winners add value

Regarding “Out of Balance?” in The Times’ California Executive Pay Report, June 10: The article failed to look at what a firm’s stock price would be if there was a different chief executive leading the company.

Ray R. Irani, Larry Ellison and Angelo Mozilo are proven winners in the eyes of the investment community. They continue to lead profitable and successful companies. I think we should keep in mind that investor confidence would be quite different if an unknown or unproven leader was at the helm of these same companies.

These CEOs add value. If these companies falter or begin to lose money, I’m sure a change in leadership will soon follow.

VICTOR FRANCO JR.

Whittier