Just as beauty’s seemingly unstoppable momentum has started to decelerate, so seemingly have the salary levels for many of the industry’s top chief executives.
An analysis of CEO compensation for the publicly traded companies on the 2024 WWD Beauty Top 100, our annual ranking of the world’s largest manufacturers by sales, shows a reshuffling, with P&G’s Jon R. Moeller returning to the top of the list. With two mega-IPOs in the sector during the year, Galderma’s Flemming Ørnskov and Puig’s Marc Puig feature high in the ranking, even with their paychecks only being taken into account since their respective listing dates in March and May.
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The year’s biggest raises went to Beiersdorf’s Vincent Warnery, whose pay jumped 425% due to a stock allocation during the year, and Kao’s Yoshihiro Hasebe, who notched a 110.6% increase. The biggest declines, meanwhile, were for Coty’s Sue Nabi, whose massive pay rise in 2023 (her total comp package rang in at $149.4 million) was down to a stock allocation, and Kenvue’s Thibaut Mongon. In total, of the 30 executives on this list, 13 saw their remuneration increase in 2024, while 10 saw a drop in income.
In a shift from previous years, when executives for U.S. companies consistently represented the vast majority of the Top 10 earners, this year’s list featured three heads of European companies.
1.
Jon R. Moeller
Chairman, president and chief executive officer, Procter & Gamble Co.
TOTAL: $22,963,881
Change Versus Prior Year: +5.8%
Fiscal Year Ended: June 30, 2024
Company Net Sales: $84 billion, +2.4%
Base Salary: $1,600,000
Stock and Option Awards: $16,901,830
Bonus and Incentive Pay: $4,086,400
Other Compensation: $375,651
2.
Flemming Ørnskov
Chief executive officer, Galderma*
Total: SFR 18,998,000 ($21,583,438)
Change Versus Prior Year: N/A
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: $4.41 billion, +8%
Base Salary: SFR 1,482,000 ($1,683,685)
Stock and Option Awards: SFR 14,334,000 ($16,284,714)
Bonus and Incentive Pay: SFR 2,963,000 ($3,366,235)
Other Compensation: SFR 219,000 ($248,804)
*Data for the period from March 22, 2024 (when Galderma was listed) to Dec. 31, 2024.
3.
Noel Wallace
Chairman, president and chief executive officer, Colgate-Palmolive Co.
TOTAL: $18,234,864
Change Versus Prior Year: +6.5%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: $20.1 billion, +3.3%
Base Salary: $1,500,000
Stock and Option Awards: $11,193,028
Bonus and Incentive Pay: $4,623,682
Other Compensation: $918,154
4.
Fabrizio Freda
President and chief executive officer, The Estée Lauder Cos.
TOTAL: $17,851,573
Change Versus Prior Year: -18.2%
Fiscal Year Ended: June 30, 2024
Company Net Sales: $15.61 billion, -2%
Base Salary: $2,100,000
Stock and Option Awards: $11,250,022
Bonus and Incentive Pay: $4,229,214
Other Compensation: $272,337
*Fabrizio Freda retired as CEO, with Stéphane de La Faverie taking over in January 2025.
5.
Vincent Warnery
Chairman, Beiersdorf
TOTAL: €13,192,000 ($14,272,425)
Change Versus Prior Year: +425%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €9.85 billion ($10.66 billion), +4.3%
Base Salary: €1,200,000 ($1,298,280)
Stock and Option Awards: €10,920,000 ($11,814,348)
Bonus and Incentive Pay: €1,067,000 ($1,154,387)
Other Compensation: €5,000 ($5,410)
6.
Marc Puig
Chairman and chief executive officer, Puig*
Total: €12,765,000 ($13,810,454)
Change Versus Prior Year: N/A
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €4.79 billion ($5.18 billion), +11.3%
Base Salary: €1,159,000 ($1,253,922)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €2,340,000 ($2,531,646)
Other Compensation: €9,266,000 ($10,024,885)
*Data for the period from May 3 (when Puig was listed) to Dec. 31, 2024.
7.
Timothy Wentworth
Chief executive officer, Walgreens Boots Alliance
TOTAL: $13,282,800
Change Versus Prior Year: N/A
Fiscal Year Ended: Aug. 31, 2024
Company Net Sales: $147.7 billion, +6.2%
Base Salary: $1,290,385
Stock and Option Awards: $11,600,744
Bonus and Incentive Pay: $0
Other Compensation: $391,671
8.
Thibaut Mongon
Chief executive officer, Kenvue, Inc.
TOTAL: $13,167,969
Change Versus Prior Year: -33.2%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: $15.46 billion, +0.1%
Base Salary: $1,250,000
Stock and Option Awards: $8,964,751
Bonus and Incentive Pay: $2,636,875
Other Compensation: $316,343
9.
Nicolas Hieronimus
Chief executive officer, L’Oréal
TOTAL: €9,985,840 ($10,803,680)
Change Versus Prior Year: -5.7%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €43.48 billion ($47.04 billion), +5.6%
Base Salary: €2,000,000 ($2,163,800)
Stock and Option Awards: €5,735,840 ($6,205,605)
Bonus and Incentive Pay: €2,250,000 ($2,434,275)
Other Compensation: N/A
10.
Rod R. Little
President and chief executive officer, Edgewell Personal Care
TOTAL: $10,078,913
Change Versus Prior Year: -0.8%
Fiscal Year Ended: Sept. 30, 2024
Company Net Sales: $2.25 billion, +0.1%
Base Salary: $1,100,000
Stock and Option Awards: $7,467,973
Bonus and Incentive Pay: $1,338,563
Other Compensation: $172,377
11.
Bernard Arnault
Chairman and chief executive officer, LVMH Moët Hennessy Louis Vuitton
TOTAL: €7,937,916 ($8,588,031)
Change Versus Prior Year: Flat
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €84.7 billion ($91.64 billion), -2%
Base Salary: €1,138,307 ($1,231,534)
Stock and Option Awards: €4,483,313 ($4,850,496)
Bonus and Incentive Pay: €2,200,000 ($2,380,180)
Other Compensation: €116,296 ($125,821)
12.
Tarang Amin
Chairman, chief executive officer and president, E.l.f. Beauty
TOTAL: $8,434,392
Change Versus Prior Year: +49.7%
Fiscal Year Ended: March 31, 2024
Company Net Sales: $1.02 billion, + 77%
Base Salary: $475,000
Stock and Option Awards: $6,999,892
Bonus and Incentive Pay: $950,000
Other Compensation: $9,500
13.
Jérôme Lambert
Group chief executive officer, Compagnie Financière Richemont
TOTAL: SFR 7,115,906 ($8,084,310)
Change Versus Prior Year: -10.8%
Fiscal Year Ended: March 31, 2024
Company Net Sales: €20.6 billion ($22.29 billion), +3%
Base Salary: SFR 1,948,325 ($2,213,473)
Stock and Option Awards: SFR 2,107,569 ($2,394,388)
Bonus and Incentive Pay: SFR 2,593,973 ($2,946,987)
Other Compensation: SFR 446,039 ($506,740)
14.
Axel Dumas
Chief executive officer, Hermès International
TOTAL: €7,287,713 ($7,884,577)
Change Versus Prior Year: +24.5%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €15.17 billion ($16.41 billion), +13%
Base Salary: €2,657,510 ($2,875,160)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €4,630,203 ($5,009,417)
Other Compensation: N/A
15.
Carsten Knöbel
Chairman, Henkel
TOTAL: €6,830,432 ($7,389,844)
Change Versus Prior Year: +1.2%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €21.58 billion ($23.35 billion), +0.3%
Base Salary: €1,575,000 ($1,703,992)
Stock and Option Awards: €1,354,438 ($1,465,366)
Bonus and Incentive Pay: €3,124,800 ($3,380,721)
Other Compensation: €776,195 ($839,765)
16.
Sue Nabi
Chief executive officer, Coty Inc.
TOTAL: $7,250,579
Change Versus Prior Year: -95.1%
Fiscal Year Ended: June 30, 2024
Company Net Sales: $6.12 billion, +10%
Base Salary: $3,529,800
Stock and Option Awards: $0
Bonus and Incentive Pay: $3,706,290
Other Compensation: $14,489
17.
Hein Schumacher
Former chief executive officer, Unilever
Total: €5,552,000 ($6,006,709)
Change Versus Prior Year: N/A
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €60.8 billion ($65.78 billion), +1.9%
Base Salary: €1,850,000 ($2,001,515)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €3,386,000 ($3,663,313)
Other Compensation: €316,000 ($341,880)
18.
Ryan S. Napierski
President and chief executive officer, Nu Skin Enterprises
TOTAL: $5,993,088
Change Versus Prior Year: +2.6%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: $1.73 billion, -12%
Base Salary: $1,041,803
Stock and Option Awards: $4,517,549
Bonus and Incentive Pay: $288,750
Other Compensation: $144,987
19.
François-Henri Pinault
Chairman and chief executive officer, Kering
Total: €4,264,404 ($4,613,659)
Change Versus Prior Year: -14%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: €17.19 billion ($18.6 billion), -12%
Base Salary: €1,200,000 ($1,298,280)
Stock and Option Awards: N/A
Bonus and Incentive Pay: €2,878,667 ($3,114,430)
Other Compensation: €185,737 ($200,949)
20.
Saugata Gupta
Managing director and chief executive officer, Marico Ltd.
TOTAL: 237,102,926 rupees ($2,833,570)
Change Versus Prior Year: -5.6%
Fiscal Year Ended: March 31, 2024
Company Net Sales: 96.53 billion rupees ($1.15 billion), -1.1%
Base Salary: 94,831,464 rupees ($1,133,312)
Stock and Option Awards: 100,000,000 rupees ($1,195,080)
Bonus and Incentive Pay: 38,029,306 rupees ($454,480)
Other Compensation: 4,242,156 rupees ($50,697)
21.
Sudhir Sitapati
Managing director and chief executive officer, Godrej Consumer Products Limited
TOTAL: 190,200,000 rupees ($2,273,042)
Change Versus Prior Year: +31.8%
Fiscal Year Ended: March 31, 2024
Company Net Sales: 141 billion rupees ($1.58 billion), +5.6%
Base Salary: 63,300,000 rupees ($756,486)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 37,500,000 rupees ($448,155)
Other Compensation: 89,400,000 ($1,068,402)
22.
Kazutoshi Kobayashi
President and chief executive officer, Kosé Corp.
TOTAL: ¥327,000,000 ($2,161,137)
Change Versus Prior Year: -4.7%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: ¥322.76 billion ($2.13 billion), +7.4%
Base Salary: ¥225,000,000 ($1,487,021)
Stock and Option Awards: N/A
Bonus and Incentive Pay: ¥102,000,000 ($674,116)
Other Compensation: N/A
23.
Masahiko Uotani
Chairman and chief executive officer, Shiseido Co.
TOTAL: ¥316,000,000 ($2,088,438)
Change Versus Prior Year: +5%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: ¥990.59 billion ($6.55 billion), +1.8%
Base Salary: ¥169,000,000 ($1,116,918)
Stock and Option Awards: ¥68,000,000 ($449,411)
Bonus and Incentive Pay: ¥79,000,000 ($522,109)
Other Compensation: N/A
24.
Jean Madar
Chairman and chief executive officer, Inter Parfums Inc.
TOTAL: $2,000,000
Change Versus Prior Year: Flat
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: $1.45 billion, +10%
Base Salary: $2,000,000
Stock and Option Awards: $0
Bonus and Incentive Pay: $0
Other Compensation: $0
25.
Yoshihiro Hasebe
President and chief executive officer, Kao Corp.
TOTAL: ¥297,000,000 ($1,962,867)
Change Versus Prior Year: +110.6%
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: ¥1.63 trillion ($10.77 billion), +6.3%
Base Salary: ¥87,000,000 ($574,981)
Stock and Option Awards: ¥98,000,000 ($647,680)
Bonus and Incentive Pay: ¥112,000,000 ($740,206)
Other Compensation: N/A
26.
Jonathan Myers
Chief executive officer, PZ Cussons
TOTAL: £1,390,802 ($1,777,375)
Change Versus Prior Year: -11.4%
Fiscal Year Ended: May 31, 2024
Company Net Sales: £527.9 million ($674.6 million), -19.6%
Base Salary: £633,245 ($809,255)
Stock and Option Awards: £34,045 ($43,508)
Bonus and Incentive Pay: £637,440 ($814,617)
Other Compensation: £86,072 ($109,996)
27.
Mohit Malhotra
Chief executive officer, Dabur India
TOTAL: 146,384,295 rupees ($1,749,409)
Change Versus Prior Year: +9.6%
Fiscal Year Ended: March 31, 2024
Company Net Sales: 124 billion rupees ($1.48 billion), +7.6%
Base Salary: 109,467,628 rupees ($1,308,226)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 29,800,000 rupees ($356,134)
Other Compensation: 7,116,667 rupees ($85,050)
28.
Amanda Baldwin
Chief executive officer, Olaplex
TOTAL: $1,355,970
Change Versus Prior Year: -90.3%
Fiscal Year Ended: December 31, 2024
Net Sales: $422.7 million, -7.8%
Base Salary: $1,000,000
Stock and Option Awards: $0
Bonus and Incentive Pay: $330,000
Other Compensation: $25,970
29.
Harsha V. Agarwal
Vice chairman and managing director, Emami Ltd.
Total: 69,696,000 rupees ($832,923)
Change Versus Prior Year: +12.8%
Fiscal Year Ended: March 31, 2024
Company Net Sales: 35.78 billion rupees ($427.6 million), +5.1%
Base Salary: 28,800,000 rupees ($344,183)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 35,000,000 rupees ($418,278)
Other Compensation: 5,896,000 rupees ($70,462)
29.
Mohan Goenka
Vice chairman and whole-time director, Emami Ltd.
Total: 69,696,000 rupees ($832,923)
Change Versus Prior Year: +12.8%
Fiscal Year Ended: March 31, 2024
Company Net Sales: 35.78 billion rupees ($427.6 million), +5.1%
Base Salary: 28,800,000 rupees ($344,183)
Stock and Option Awards: N/A
Bonus and Incentive Pay: 35,000,000 rupees ($418,278)
Other Compensation: 5,896,000 rupees ($70,462)
31.
Song Hongquan*
Chief executive officer, Mao Geping Cosmetics Co., Ltd.
Total: CNY 5,282,000 ($734,578)
Change Versus Prior Year: N/A
Fiscal Year Ended: Dec. 31, 2024
Company Net Sales: CNY 3.88 billion ($539.6 million), +34.6%
Base Salary: CNY 3,378,000 ($469,785)
Stock and Option Awards: N/A
Bonus and Incentive Pay: CNY 1,860,000 ($258,674)
Other Compensation: CNY 44,000 ($6,119)
*Song Hongquan took over as chief executive of the company on March 24, 2024.
This list contains publicly available information for the listed companies featuring on the 2024 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.
Principally due to geographic differences in financial reporting obligations, information was also unavailable for the following public companies: Aekyung Industrial, Amorepacific, Bath & Body Works, Befra, Bloomage Biotechnology Co., 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., Shanghai Jahwa United Co., Victoria’s Secret & Co., 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 2024 average exchange rates from Oanda.com: €1=$1.08190; ¥1=$0.00660898; £1=$1.27795; CNY 1=$0.139072; 1 Rupee=$0.0119508; 1 SFR=$1.13609.