Coty’s Sue Nabi returned to the top of the list as beauty’s highest-paid chief executive officer by a long shot in 2023, thanks to a stock allocation of $145.9 million, with graded vesting over several years, subject to conditions. In second position, the Estée Lauder Cos.’ Fabrizio Freda saw his pay decline for the second year in a row, principally due to a big drop in performance-related incentive pay.
Executives for U.S. companies remained the biggest earners, with the remainder of the top 10 earners occupied by consumer-goods and health care heavyweights, rather than pure beauty players. The only exception was L’Oréal’s Nicolas Hieronimus, at number nine on the list.
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Aside from Nabi’s massive 4,100 percent pay hike, the biggest rises were seen by Inter Parfums Inc.’s Jean Madar and Clorox Co.’s Linda Rendle. At the opposite end of the scale, the biggest declines were seen by Shiseido’s Masahiko Uotani, Saugata Gupta of India’s Marico Ltd., and former Walgreens Boots Alliance head Rosalind Brewer.
1.
Sue Nabi
Chief executive officer, Coty Inc.
TOTAL: $149,429,486
Change Versus Prior Year: +4,100%
Fiscal Year Ended: June 30, 2023
Net Sales: $5.55 billion, +5%
Base Salary: $3,549,000
Stock and Option Awards: $145,875,000
Bonus and Incentive Pay: $0
Other Compensation: $5,486
2.
Fabrizio Freda
President and chief executive officer, The Estée Lauder Cos.
TOTAL: $21,811,244
Change Versus Prior Year: -14.3%
Fiscal Year Ended: June 30, 2023
Net Sales: $15.91 billion, -10%
Base Salary: $2,100,000
Stock and Option Awards: $15,625,008
Bonus and Incentive Pay: $3,773,050
Other Compensation: $313,186
3.
Jon R. Moeller
President and chief executive officer, Procter & Gamble Co.
TOTAL: $21,715,625
Change Versus Prior Year: +22.6%
Fiscal Year Ended: June 30, 2023
Net Sales: $82 billion, +2%
Base Salary: $1,600,000
Stock and Option Awards: $14,997,563
Bonus and Incentive Pay: $4,712,000
Other Compensation: $406,062
4.
Thibaut Mongon
Chief executive officer, Kenvue Inc.*
TOTAL: $19,722,593
Change Versus Prior Year: N/A
Fiscal Year Ended: Dec. 31, 2023
Net Sales: $15.44 billion, +3.3%
Base Salary: $1,243,750
Stock and Option Awards: $14,932,319
Bonus and Incentive Pay: $3,518,750
Other Compensation: $27,774
*Kenvue Inc. is the former consumer health activity of Johnson & Johnson, which went public in a carve-out in May 2023.
5.
Noel Wallace
Chairman, president and chief executive officer, Colgate-Palmolive Co.
TOTAL: $17,121,584
Change Versus Prior Year: +18.4%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: $19.46 billion, +8.5%
Base Salary: $1,475,000
Stock and Option Awards: $9,938,958
Bonus and Incentive Pay: $4,777,764
Other Compensation: $929,862
6.
Rosalind Brewer
Former chief executive officer, Walgreens Boots Alliance*
TOTAL: $14,134,190
Change Versus Prior Year: -18.2%
Fiscal Year Ended: Aug. 31, 2023
Net Sales: $139.1 billion, +4.8%
Base Salary: $1,500,000
Stock and Option Awards: $10,639,786
Bonus and Incentive Pay: $0
Other Compensation: $1,994,404
*Rosalind Brewer stepped down on Aug. 31, 2023.
7.
Linda Rendle
Chief executive officer, Clorox Co.
TOTAL: $11,649,650
Change Versus Prior Year: +36.5%
Fiscal Year Ended: June 30, 2023
Net Sales: $7.39 billion, +4%
Base Salary: $1,168,269
Stock and Option Awards: $6,999,700
Bonus and Incentive Pay: $3,122,606
Other Compensation: $359,076
8.
Matthew T. Farrell
Chairman, president and chief executive officer, Church & Dwight Co. Inc.
TOTAL: $11,182,166
Change Versus Prior Year: +33.5%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: $5.87 billion, +9.2%
Base Salary: $1,183,975
Stock and Option Awards: $7,232,300
Bonus and Incentive Pay: $2,530,700
Other Compensation: $235,191
9.
Nicolas Hieronimus
Chief executive officer, L’Oréal
TOTAL: €10,326,000 ($11,166,949)
Change Versus Prior Year: +1.8%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: €41.18 billion ($44.53 billion), +7.6%
Base Salary: €2,000,000 ($2,162,880)
Stock and Option Awards: €6,066,000 ($6,560,015)
Bonus and Incentive Pay: €2,260,000 ($2,444,054)
Other Compensation: N/A
10.
Martin Waters
Chief executive officer, Victoria’s Secret & Co.
TOTAL: $10,925,251
Change Versus Prior Year: -12.7%
Fiscal Year Ended: Feb. 3, 2024
Net Sales: $6.18 billion, -3%
Base Salary: $1,250,000
Stock and Option Awards: $8,851,198
Bonus and Incentive Pay: $788,738
Other Compensation: $35,315
11.
Rod R. Little
President and chief executive officer, Edgewell Personal Care
TOTAL: $10,157,128
Change Versus Prior Year: +12.8%
Fiscal Year Ended: Sept. 30, 2023
Net Sales: $2.25 billion, +3.7%
Base Salary: $1,095,833
Stock and Option Awards: $7,560,774
Bonus and Incentive Pay: $1,727,440
Other Compensation: $133,081
12.
Jérôme Lambert
Group chief executive officer, Compagnie Financière Richemont
TOTAL: SFR 7,979,917 ($8,884,441)
Change Versus Prior Year: +7.4%
Fiscal Year Ended: March 31, 2023
Net Sales: SFR 19.95 billion ($22.21 billion), +19%*
Base Salary: SFR 1,951,094 ($2,172,251)
Stock and Option Awards: SFR 4,063,369 ($4,523,952)
Bonus and Incentive Pay: SFR 1,486,990 ($1,655,540)
Other Compensation: SFR 478,464 ($532,698)
*Not including sales for YNAP in 2022
13.
Bernard Arnault
Chairman and chief executive officer, LVMH Moët Hennessy Louis Vuitton
TOTAL: €7,937,090 ($8,583,487)
Change Versus Prior Year: Flat
Fiscal Year Ended: Dec. 31, 2023
Net Sales: €86.15 billion ($93.17 billion), +9%
Base Salary: €1,138,307 ($1,231,011)
Stock and Option Awards: €4,483,473 ($4,848,607)
Bonus andIncentive Pay: €2,200,000 ($2,379,168)
Other Compensation: €115,310 ($124,701)
14.
Carsten Knöbel
Chairman, Henkel
TOTAL: €6,749,320 ($7,298,985)
Change Versus Prior Year: -1.6%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: €21.51 billion ($23.26 billion), -3.9%
Base Salary: €1,500,000 ($1,622,160)
Stock and Option Awards: €1,304,533 ($1,410,774)
Bonus and Incentive Pay: €3,150,000 ($3,406,536)
Other Compensation: €794,787 ($859,515)
15.
Axel Dumas
Chief executive officer, Hermès International
TOTAL: €5,852,276 ($6,328,885)
Change Versus Prior Year: +30.4%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: €13.4 billion ($14.49 billion), +16%
Base Salary: €2,203,574 ($2,383,033)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €3,648,702 ($3,945,852)
Other Compensation: N/A
16.
Ryan S. Napierski
President and chief executive officer, Nu Skin Enterprises
TOTAL: $5,838,579
Change Versus Prior Year: +22.5%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: $1.97 billion, -12%
Base Salary: $991,918
Stock and Option Awards: $4,046,074
Bonus and Incentive Pay: $641,300
Other Compensation: $159,287
17.
Tarang Amin
Chairman, chief executive officer and president, E.l.f. Beauty
TOTAL: $5,634,119
Change Versus Prior Year: +7.6%
Fiscal Year Ended: March 31, 2023
Net Sales: $578.8 million, + 48%
Base Salary: $475,000
Stock and Option Awards: $4,199,619
Bonus and Incentive Pay: $950,000
Other Compensation: $9,500
18.
Saugata Gupta
Managing director and chief executive officer, Marico Ltd.
TOTAL: 251,075,800 rupees ($3,040,377)
Change Versus Prior Year: -30.5%
Fiscal Year Ended: March 31, 2023
Net Sales: 97.64 billion rupees ($1.18 billion), +3%
Base Salary: 86,875,092 rupees ($1,052,005)
Stock and Option Awards: 100,000,000 rupees ($1,210,940)
Bonus and Incentive Pay: 60,308,820 rupees ($730,304)
Other Compensation: 3,891,888 rupees ($47,128)
19.
Vincent Warney
Chairman, Beiersdorf
TOTAL: €2,512,000 ($2,716,577)
Change Versus Prior Year: -3.9%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: €9.45 billion ($10.22 billion), +7.4%
Base Salary: €1,000,000 ($1,081,440)
Stock and Option Awards: €0 ($0)
Bonus and Incentive Pay: €1,507,000 ($1,629,730)
Other Compensation: €5,000 ($5,407)
20.
Kazutoshi Kobayashi
President and chief executive officer, Kosé Corp.
TOTAL: ¥343,000,000 ($2,446,266)
Change Versus Prior Year: +32.4%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: ¥300.41 billion ($2.14 billion), +3.9%
Base Salary: ¥220,000,000 ($1,569,033)
Stock and Option Awards: N/A
Bonus and Incentive Pay: ¥123,000,000 ($877,232)
Other Compensation: N/A
21.
Masahiko Uotani
Chairman and chief executive officer, Shiseido Co.
TOTAL: ¥301,000,000 ($2,146,723)
Change Versus Prior Year: -43.3%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: ¥973.04 billion ($6.94 billion), -8.8%
Base Salary: ¥169,000,000 ($1,205,303)
Stock and Option Awards: ¥60,000,000 ($427,918)
Bonus and Incentive Pay: ¥72,000,000 ($513,502)
Other Compensation: N/A
22.
Jean Madar
Chairman and chief executive officer, Inter Parfums Inc.
TOTAL: $2,000,000
Change Versus Prior Year: +62.6%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: $1.32 billion, +21%
Base Salary: $2,000,000
Stock and Option Awards: $0
Bonus and Incentive Pay: $0
Other Compensation: $0
23.
Jonathan Myers
Chief executive officer, PZ Cussons
TOTAL: £1,571,539 ($1,954,366)
Change Versus Prior Year: +36.5%
Fiscal Year Ended: May 31, 2023
Net Sales: £656.3 million ($816.2 million), +10.7%
Base Salary: £607,797 ($755,856)
Stock and Option Awards: £142,763 ($177,540)
Bonus and Incentive Pay: £736,331 ($915,701)
Other Compensation: £84,648 ($105,268)
24.
Sudhir Sitapati
Managing director and chief executive officer, Godrej Consumer Products Limited
TOTAL: 144,300,000 rupees ($1,747,386)
Change Versus Prior Year: N/A
Fiscal Year Ended: March 31, 2023
Net Sales: 75.31 billion rupees ($912.0 million), +10.4%
Base Salary: 58,400,000 rupees ($707,189)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 30,000,000 rupees ($363,282)
Other Compensation: 55,900,000 rupees ($676,916)
25.
Mohit Malhotra
Chief executive officer, Dabur India
TOTAL: 133,542,420 rupees ($1,617,119)
Change Versus Prior Year: -8.6%
Fiscal Year Ended: March 31, 2023
Net Sales: 115.3 billion rupees ($1.40 billion), +6%
Base Salary: 99,801,318 rupees ($1,208,534)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 27,300,000 rupees ($330,587)
Other Compensation: 6,441,102 rupees ($77,998)
26.
Alex Pan
Chairman and chief executive officer, Shanghai Jahwa United Co. Ltd
TOTAL: CNY 7,715,000 ($1,090,878)
Change Versus Prior Year: -15%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: CNY 6.6 billion ($933.2 million), -7.1%
Base Salary: N/A
Stock and Option Awards: N/A
Bonus and Incentive Pay: N/A
Other Compensation: N/A
27.
André Hoffmann
Chief executive officer, L’Occitane Group*
TOTAL: €939,000 ($1,015,472)
Change Versus Prior Year: N/A
Fiscal Year Ended: March 31, 2023
Net Sales: €2.13 billion ($2.30 billion), +19.8%
Base Salary: €659,000 ($712,669)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €280,000 ($302,803)
Other Compensation: N/A
*André Hoffmann stepped down from his role on March 31, 2024
28.
Yoshihiro Hasebe
President and chief executive officer, Kao Corp.
TOTAL: ¥141,000,000 ($1,005,608)
Change Versus Prior Year: -4.1%
Fiscal Year Ended: Dec. 31, 2023
Net Sales: ¥1.53 trillion ($10.9 billion), -1.2%
Base Salary: ¥87,000,000 ($620,481)
Stock and Option Awards: ¥25,000,000 ($178,299)
Bonus and Incentive Pay: ¥29,000,000 ($206,827)
Other Compensation: N/A
29.
Harsha V. Agarwal
Vice chairman and managing director, Emami Ltd.
TOTAL: 61,808,000 rupees ($748,458)
Change Versus Prior Year: N/A
Fiscal Year Ended: March 31, 2023
Net Sales: 33.62 billion rupees ($407.1 million), +6.6%
Base Salary: 26,400,000 rupees ($319,688)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 30,000,000 rupees ($363,282)
Other Compensation: 5,408,000 rupees ($65,488)
29.
Mohan Goenka
Vice chairman and whole-time director, Emami Ltd.
TOTAL: 61,808,000 rupees ($748,458)
Change Versus Prior Year: N/A
Fiscal Year Ended: March 31, 2023
Net Sales: 33.62 billion rupees ($407.1 million), +6.6%
Base Salary: 26,400,000 rupees ($319,688)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 30,000,000 rupees ($363,282)
Other Compensation: 5,408,000 rupees ($65,488)
This list contains publicly available information for the listed companies featuring on the WWD Beauty Inc Top 100 list of the world’s largest beauty manufacturers. The information includes salaries, bonuses and other remuneration received directly from the companies in 2023, but does not necessarily factor in earnings from ownership of company shares. Year-on-year percentage changes were calculated by WWD Beauty Inc.
Due to leadership changes in 2023, information was not included for Olaplex and Unilever.
Principally due to geographic differences in financial reporting obligations, information was also unavailable for the following public companies: Amorepacific, Bath & Body Works, Bloomage Biotechnology Co., Fancl, Guangdong Marubi Bio-technology Co., LG Household & Health Care, Lion Corp., Mandom Corp., Milbon Co. Ltd., Natura & Co., Noevir Holdings, Oddity Tech Ltd., Pola Orbis Holdings, Proya Cosmetics Co. Ltd., Shanghai Chicmax Cosmetic Co., S’Young Group Co. Ltd., Yatsen Holding, Yunnan Botanee Bio-Technology Group Co. Ltd.
*CURRENCY CONVERSIONS: Figures in non-U.S. currencies were converted to the dollar using the following 2023 average exchange rates from Oanda.com:
€1=$1.08144; ¥1=$0.00713197; £1=$1.24360; CNY 1=$0.141397; 1 Rupee=$0.0121094; 1 SFr=$1.11335.
