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Summary.
In 2021, Danone’s board of directors, under pressure from activist Bluebell Capital and Artisan Partners, ousted the company’s CEO Emmanuel Faber — a longtime advocate of stakeholder capitalism. This decision puzzled many observers; in an age where the business community seems to be readily embracing stakeholder capitalism, Faber and Danone were stalwarts. Now Unilever — another stakeholder-centered consumer goods darling — is under similar strain from an even more well-equipped and seasoned activist investor, Nelson Peltz.