Magnum Ice Cream claims Ben & Jerry's board chair is unqualified for the position.
Internal Conflict: Magnum Ice Cream Company has determined that the chair of its Ben & Jerry's brand no longer qualifies to serve on the board following internal investigations, amid ongoing tensions between the two entities as Unilever prepares for a spinoff of its ice cream division.
Independent Board Concerns: Ben & Jerry's co-founder Ben Cohen criticized Magnum's actions as an attempt to undermine the independent board established to protect the brand's integrity, emphasizing that any board member changes require a majority vote from the board.
Legal and Corporate Tensions: The conflict between Unilever and Ben & Jerry's has escalated since 2021, particularly after Ben & Jerry's decision to halt sales in the Israeli-occupied West Bank, leading to legal disputes over attempts to silence the brand's political stance.
Market Risks: As Magnum prepares to operate independently, it faces potential risks such as changing consumer habits due to weight-loss drugs, declining ice cream demand, and fluctuating prices of essential raw materials like cocoa and sugar.
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