NO SACRED COWS. Namyang Dairy Products (003920.KS) stumbled into a novel way of cleaning up a mess. Chairman Hong Won-sik resigned read more on Tuesday amid a police probe into the $240 million company’s since-retracted claims that its yoghurt drink could prevent Covid-19. The share price bubbled up nearly 10% on the news. Many beverages such as Hindustan Unilever’s (HLL.NS) Horlicks boast immunity-boosting benefits, but Namyang went notably further. The head of research said last month that its Bulgaris drink was found to be 77.8% effective in fighting the virus behind the pandemic, according to local media. The curdling may run deeper. Hong’s son was sacked last month after allegations of misusing company funds. And although the family owns more than half of Namyang, the chairman’s mea culpa included a vow not to hand management rights to his children. With a market value that has tumbled 70% since a 2013 peak, a governance overhaul might help minority shareholders milk more from their investment. (By Robyn Mak) On Twitter http://twitter.com/breakingviews Earlier in Capital Calls: A grim reading from Ant’s valuation tea leaves read more HK financial standing under threat read more Meredith flips the switch on TV read more Sage vs. spice read more Apollo treads where Verizon flubbed read more