Pushback against Investec's plan to pay for execs' bodyguards

Shareholder activist group Just Share wants Investec to reconsider providing personal security to its executive directors at the company's expense.

During Investec's 2022 annual general meeting (AGM) on Thursday, Just Share-linked shareholders said executive pay at Investec was already "at excessive levels". They questioned why the company should additionally bear their personal security costs in a country where inequality and pay gaps are constantly on the rise.

Investec had proposed a special resolution asking shareholders to approve the amendment of its remuneration policy to allow the company to cover personal security costs borne by its executive directors because of the high crime rate in the country. The bank's remuneration committee wanted to ensure that its high-profile senior executives, including its CEO and chief financial officer, feel more secure.