A good week for Magda Wierzycka
Magda Wierzycka may have another reason to stay at Sygnia after shareholders approved a contentious scheme making almost R600m in stock available to attract and retain talent. The asset manager’s founder, who stands to benefit, recently told the FM that recruitment costs are “staggering”. Nearly 87% of votes backed the scheme despite objections from minority shareholders who see it as little more than enrichment.
A bad week for Irvin Jim
After more than 18 years as general secretary of the National Union of Metalworkers of South Africa, Irvin Jim has been stripped of his powers by the central committee of the country’s largest union. He faces possible disciplinary action over a R5m armoured BMW and luxury accommodation allegedly sponsored by a wanted billionaire, as well as accusations that he and fellow office-bearers blocked meetings of the union’s top governing bodies.
