There’s been much scepticism and concern from investors and stakeholder groups about the appointment of Olivia Wirth by Myer as executive chairwoman. After all, having the chief executive and the chairman in the one role flies in the face of the accepted principles of good governance as espoused by the ASX. Surely, it is a very, very bad idea.

At first glance, there are good reasons to be apprehensive about such a move. But when it comes to good governance, there is no one-size fits all approach. All organisations and companies are unique and different when it comes to culture, structures and management styles.