US EditionPublished • loading... • Updated
Ben & Jerry's board chair does not plan to resign as pressure mounts from Unilever unit
Anuradha Mittal resists pressure to resign amid governance audit concerns and funding withheld by Magnum, which will control one-fifth of the global ice cream market after its spinoff.
- On Monday, Anuradha Mittal said she will not resign as chair of Ben & Jerry's independent board ahead of Magnum Ice Cream Company's Euronext listing, which includes the Vermont-based brand.
- A recent audit by Magnum Ice Cream Company found deficiencies in the Ben & Jerry's Foundation's financial controls and governance, and Magnum said funding will be withheld until audit compliance is met.
- Earlier this year the co-founders and the board clashed with Unilever over political statements as Jerry Greenfield quit in September and Ben Cohen was arrested in May, intensifying tensions.
- With Magnum's listing on Monday, the dispute carries heightened market and reputational consequences as Magnum Ice Cream Company inherits legal battles and warnings from securities filings.
- The board and its counsel say they are defending legal protections under the 2000 merger agreement, citing the Ben & Jerry's Foundation's governance has been consistent for over 20 years.
Insights by Ground AI
Podcasts & Opinions
8 Articles
8 Articles
Ben & Jerry's board chair does not plan to resign as pressure mounts from Unilever unit
The chair of Ben & Jerry's independent board said she has no plans to resign as Unilever pressures her ahead of Monday's public spinoff of its Magnum ice cream division, which will include the Vermont-based brand.
·United Kingdom
Read Full Article
Coverage Details
Total News Sources8
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
Factuality
To view factuality data please Upgrade to Premium
