In the light of the Bula scandal, there has been strong speculation that the Government may introduce legislation that will compel companies to have different chairmen and chief executives.

If that legislation is introduced, it would also affect some of our highest-powered businessmen who have so far steadfastly resisted the efforts of the investment community to encourage them to give up one job or the other.

By far the most prominent chairman/chief executive double jobber is Michael Smurfit who has ignored all the efforts of the Irish Association of Investment Managers to make separate the two roles. Another high-profile chairman/chief executive is Kingspan boss Gene Murtagh, who is also the biggest shareholder.

A temporary chairman/chief executive is Crean's Ray McLoughlin, who has insisted that he will step down as chairman when he finds somebody to take on the job. Cynics might say that, in Crean's case, it's more a matter of finding someone to take the poisoned chalice.