Ben & Jerry’s brand could be destroyed, says co-founder

Ben & Jerry’s will likely be destroyed as a model if it stays with dad or mum firm Magnum, the corporate’s co-founder Ben Cohen has instructed the BBC. His remarks are the newest in a long-running spat between the ice cream model and its dad or mum firm over its means to specific its social activism and the continued independence of its board. The feedback got here on the day that the Magnum Ice Cream Firm (TMICC) began buying and selling on the European inventory market – spinning off from proprietor Unilever. A spokesperson for Magnum mentioned the agency needed to construct and strengthen Ben & Jerry’s “highly effective, non-partisan values-based place on this planet”.Ben & Jerry’s was offered to Unilever in 2000 in a deal which allowed it to retain an impartial board and the correct to make choices about its social mission.For the reason that sale there have been deepening clashes between the Vermont-based model and Unilever, with this battle now inherited by Magnum. In 2021, Ben & Jerry’s refused to promote its merchandise in areas occupied by Israel, leading to its Israeli operation being offered by Unilever to an area licensee, and in October, Ben Cohen mentioned it was prevented from launching an ice cream which expressed “solidarity with Palestine”.Final month, forward of its spin off from Unilever, Magnum mentioned the chair of Ben & Jerry’s board Anuradha Mittal, who has held the place since 2018, “now not meets the factors to serve” – saying this was the results of an inner audit. A spokesperson for Magnum mentioned it had discovered “a collection of fabric deficiencies in monetary controls, governance and different compliance insurance policies, together with conflicts of curiosity”.”Up to now, the trustees haven’t absolutely addressed the deficiencies recognized,” they mentioned.In a press release to Reuters, Ms Mittal mentioned: “The so-called audit of the muse was a manufactured inquiry – engineered to try to discredit me.”It is very important perceive that this isn’t merely an assault on me as chair. It’s Unilever’s try to undermine the authority of the Board itself.”The BBC has contacted Ben & Jerry’s to request this assertion.Mr Cohen mentioned Magnum “has no standing to find out who the chair of the impartial board must be”. “Due to this fact, by attempting to [change the chair of the board], I’d say that Magnum isn’t match to personal Ben & Jerry’s,” he added.Mr Cohen known as for both the enterprise to be “owned by a bunch of buyers that assist the model and wish to encourage the values” or for Magnum to make a “180 diploma flip round and say they assist the chairman of the impartial board”.Forward of the spin off on Monday, information company Reuters reported that Ms Mittal mentioned she had no plans to step down from the board. Ben Cohen stays an worker of Ben & Jerry’s and the model’s most high-profile spokesperson. He instructed the BBC he feared beneath the present possession the ice cream maker’s “loyal” followers can be misplaced for good.”If the corporate continues to be owned by Magnum, not solely will the values be misplaced, however the essence of the model will likely be misplaced,” he mentioned.On Sunday, Magnum’s chief govt Peter ter Kulve instructed the Monetary Instances the Ben & Jerry’s founders have been of their seventies and “at a sure second they should hand over to a brand new technology”.Jerry Greenfield, Mr Cohen’s co-founder, left the ice cream maker in September after virtually half a century on the agency – citing considerations concerning the stifling of its social mission. “It is absurd,” mentioned Mr Cohen. “That is about values and abiding by a legally binding settlement.”Mr Cohen added buyers in Magnum have been being requested to pay a premium for the Ben & Jerry’s model “as a result of it has such a loyal following”.”As they destroy Ben and Jerry’s values, they may destroy that following and they’re going to destroy that model,” he mentioned. “It’s going to grow to be simply one other piece of frozen mush that simply going to lose a number of market share.”A spokesperson for Magnum mentioned Ben & Jerry’s was “not on the market” and it had “all the time revered” the model’s dedication to proceed its “social mission”.The demerger of Unilever’s ice cream enterprise noticed main shares in Magnum open at €12.20 (£10.66) – down on the anticipated €12.80 (£11.18) reference value set by the EuroNext alternate in Amsterdam. Nevertheless it bounced again up by 1.3% at shut of buying and selling.The spin off means Magnum is now the world’s largest standalone ice cream enterprise.