For some light reading on the value of Good Will, I'd highly suggest reading these articles. A decision that would have heavily been opposed by Board Members, but a CEO who undoubtedly understood the value people have in a business that will do right by their customers. Mr. Dean Taylor understands the same value.
Years earlier, as Lasting Leadership noted, other companies had demonstrated what came to be seen as poor judgment in the way they handled defective product incidents. For example, Coca-Cola had mismanaged the “contaminated can” incident in Europe in 1999; Intel had initially failed to respond quickly to the calculation errors embedded in its Pentium chip in 1994, and Firestone had initially refused to accept responsibility for SUV roll-overs caused by poorly manufactured tires in 2000.Burke’s actions were the opposite. According to media reports at the time, the Tylenol crisis led the news every night on every station for six weeks. Burke, however, met the challenge head on, contacting the chief of each network’s news divisions in order to keep them informed. He also met with the directors of the FBI and the FDA. “There were many people in the company who felt there was no possible way to save the brand, that it was the end of Tylenol,” Burke said. “But the fact is, I had confidence in J&J and its reputation, and also confidence in the public to respond to what was right. It helped turn Tylenol into a billion-dollar business.” https://knowledge.wharton.upenn.edu/article/tylenol-and-the-legacy-of-jjs-james-burke/
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