The highest paid beauty CEOs of 2023
The beauty industry is growing, and with it also the salaries of CEOs
G-Club
May 10th, 2024
May 10th, 2024
Applying our creams diligently, enthusiastically discussing which serums are most effective, and eagerly watching tutorials from our favorite creators, we often forget that the beauty industry is vast, powerful, and extremely wealthy. And it continues to grow, creating jobs. This growth, amidst ups and downs (consider the multibrand retail crisis and multi-category merchandise), is reflected in the latest data published by WWD on the highest-paid beauty CEOs in 2023. Let's delve into the top ten positions.
Beauty CEOs: Who's the Highest-Paid in 2023?
The highest-paid CEO overall in 2023 for the beauty sector is Sue Nabi, CEO of Coty Inc., a multinational that owns over 40 brands spanning fragrances, skincare, professional and mass-market hair products, and retail. Sue reclaimed the top spot thanks to a stock allocation worth $145.9 million subject to vesting conditions. This marks a 4100% salary increase. In second place is Fabrizio Freda of Estée Lauder Cos. with a total of $21.8 million.
Other Positions: General Insights
As one might expect, the top 10 positions in this ranking are occupied by industry heavyweights, who deal not only in pure beauty but also in other consumer goods and health in general. The only exception is Nicolas Hieronimus of L'Oréal, at the ninth position. Apart from Sue Nabi, the largest increases were recorded by Jean Madar of Inter Parfums Inc. and Linda Rendle of Clorox Co. Conversely, the smallest increases were seen by Masahiko Uotani of Shiseido, Saugata Gupta of Marico Ltd., and Rosalind Brewer, former CEO of Walgreens Boots Alliance, now a member of the President's Export Council.
The Ranking of the Highest-Paid Beauty CEOs of 2023 from Third to Tenth Position
On the lowest step of the podium is Jon R. Moeller, CEO of Procter & Gamble Co. with $21.7 million. In fourth position is Thibaut Mongon of Kenvue Inc. with $19.7 million, in fifth is Noel Wallace (Colgate-Palmolive Co. $17.1 million), in sixth is Rosalind Brewer ($14.1 million), in seventh is Linda Rendle ($11.4 million), in eighth is Matthew T. Farrell (Church & Dwight Co. Inc. $11.1 million), in ninth, as previously mentioned, is Nicolas Hieronimus ($11.1 million), and finally, rounding out the Top Ten is Martin Waters, CEO of Victoria's Secret & Co. with $10.9 million.
