Chris O'Shea, the CEO of the British Gas owner, said his whopping pay is "a huge amount of money" and he is "incredibly fortunate" The fatcat also admitted his pay is "impossible to justify, so there's no point in trying to do that".
But he insisted: "I don't set my own pay - that's set by our remuneration committee.
"That's the first bonus I've taken at Centrica for a number of years. I've given up bonuses because of hardships that customers were facing.
"But you can't justify a salary of that size. You can't, because it's a huge amount of money to anybody looking at this." Asked on BBC One's Breakfast show why he accepts such high pay, he added: "The average salary in the UK is around &pound;30,000.
"All of us sitting here on this sofa will make substantially more than &pound;30,000.
"It's not for me to set my own pay. It's not for you to set your own pay!"

Boss admits £4.5m pay is too much

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.