He said it was justifified because he was skilled whereas miners were not.
His comments cause an uproar in the midst of a violent 16-week strike in the platinum companies Amplats, Impala Platinum (Implats) and Lonmin by the Association of Mineworkers and Construction Union (AMCU).
"My choice of words was inappropriate and a poor way to describe the extremely challenging situation we find ourselves in," Chris Griffiths, Amplats chief executive said in a statement on Friday.
He had told the Business Day that the focus should be on affordable wages that would dent the country's high unemployment rate, "rather than comparing salaries of educated, skilled executives with workers with few or no skills and limited education."
Griffiths earned 17.6 million rand ($1.7 million) in 2013 according to the company's latest annual report.
The companies have said they cannot afford AMCU's demand for a "living wage" of 12,500 rand while the union's president have questioned salaries of company executives.
Implats said on Friday its chief executive, who earns about 7.5 million would not be taking a pay hike in light of the strike which would cripple the company's production for the rest of its financial year.