Medical aesthetic products. CEO pay on the rise and pay gap widens despite cost-of living crisis

THE WHAT? Total pay for S&P Chief Executives continues to rise, according to a report titled 100 Most Overpaid CEOs published by As You Sow. The median pay was US$23,455,188 – up 8 percent year-on-year.

THE DETAILS CEO pay is not only on the rise but also increasing faster than employee pay with those at the top receiving 324 times that of their median paid workers on average, up from 299 times in 2020, the study reveals. At Amazon, the CEO to worker pay ratio hit 6,474 to 1.

The Estee Lauder Companies’ Fabrizio Freda was named as the second most overpaid CEO in the ranking. The US prestige beauty giant has the dubious accolade of being the only cosmetics firm listed in the Most Overpaid CEOs top 10.

THE WHY? Robert Reich, Co-founder of Inequality Media, commented, “A company’s executive compensation directly reflects its directors’ priorities and outlook: You can tell if a company is committed to building a sustainable future by how it pays its CEO. The continuous, exorbitant increases in executive compensation over the past four decades typify a rigged system that benefits the wealthy at the expense of workers, and the rest of us. Shareholders must supervise boards more effectively than directors have been supervising CEOs. The solution is voting on proxy statements and taking each vote seriously.”

Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.

Examples of medical aesthetic products include:

• Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.

• Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.

• Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.

• Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.

• Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.

• Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.

• Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.