Dan has found a new way to justify to shareholders his continued presence as both ceo and chairman of Novartis - he is saving them money. Speaking at the drugmaker’s annual general meeting, he defended his dual role by saying that separating the two jobs would be inefficient and costly.

In companies where the jobs are held by different people, Dan argues that too much time and energy is spent settling conflicts, MarketWatch reports. As a result, costs rise - and not just because two people are being paid large sums. There “is an even higher price to be paid, the price of inefficiency and conflict,” he intones.

To back up his assertion, Dan cites a recent study by the Booz Allen consulting firm and contends that about 11 percent of ceo’s leave their jobs due to conflicts with a chairman. Of those who don’t leave, many are spending a lot of time settling disputes with the chairman and “time spent on such conflicts is lost for the company’s business,” Dan warns.

Such a bargain.