Ben & Jerry’s co-founder Ben Cohen has issued a stark warning that the iconic ice cream brand risks complete destruction if it remains under the ownership of newly-independent parent company Magnum. In an exclusive interview with the BBC, Cohen articulated profound concerns regarding corporate governance conflicts and the erosion of the company’s foundational social justice values.
The controversy represents the latest escalation in a protracted dispute between the Vermont-based ice cream maker and its corporate ownership over operational autonomy and activist expression. This conflict has intensified since Magnum Ice Cream Company (TMICC) commenced independent trading on European markets Monday following its spinoff from consumer goods conglomerate Unilever.
Central to the dispute is the recent removal of Ben & Jerry’s board chair Anuradha Mittal, who has led the independent board since 2018. Magnum executives cited an internal audit revealing “material deficiencies in financial controls, governance and compliance policies” as justification for her dismissal. Mittal has vehemently disputed these claims, characterizing the audit as a “manufactured inquiry engineered to attempt to discredit me” in statements to Reuters.
Cohen maintains that Magnum possesses “no standing to determine who the chair of the independent board should be,” asserting that such authority violates the original acquisition agreement. The 2000 sale to Unilever specifically guaranteed Ben & Jerry’s would retain an independent board and decision-making authority regarding its social mission—protections Cohen believes are now being systematically undermined.
The governance conflict follows several high-profile clashes between the ice cream company and its corporate parent. In 2021, Unilever sold Ben & Jerry’s Israeli operations to a local licensee after the company refused to sell products in occupied territories. More recently, Cohen claims the company was prevented from launching a flavor expressing “solidarity with Palestine.”
Cohen proposes two potential resolutions: either transfer ownership to investor groups committed to preserving the brand’s values, or for Magnum to execute a “180 degree turnaround” in supporting the independent board’s authority. He warns that continued current ownership would transform Ben & Jerry’s into “just another piece of frozen mush” that would inevitably lose market share and consumer loyalty.
Magnum executives have pushed back against these characterizations. A company spokesperson stated they aim to strengthen Ben & Jerry’s “powerful, non-partisan values-based position in the world” and confirmed the brand is “not for sale.” Magnum CEO Peter ter Kulve previously suggested to the Financial Times that the company’s septuagenarian founders should eventually “hand over to a new generation.”
The market debut saw Magnum’s primary shares open at €12.20, below the expected €12.80 reference price, though they recovered to close 1.3% higher. The spinoff establishes Magnum as the world’s largest standalone ice cream business, though its relationship with its most socially-conscious asset remains deeply fractured.