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How the Nestlé Board Handled the Infant Formula Crisis
In this episode, Lucas and Luna dive into one of the most defining corporate governance crises of the late 20th century: Nestlé's infant formula scandal. They explore how the board responded to accusations that aggressive marketing of formula in developing countries led to infant malnutrition and death. Lucas explains the 1977 Nestlé boycott, the board's initial denial, and the eventual formation of the Nestlé Infant Formula Audit Commission (NIFAC) under former Senator Ed Muskie. The conversation covers the tension between decentralized management and board oversight, the role of…
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