Ben & Jerry's co-founder, Jerry, departs the business amidst a contentious disagreement - Ben & Jerry's co-founder Jerry is departing the company amidst controversy
In a significant development, Ben & Jerry's co-founder Jerry Greenfield has announced his departure from the company, citing a dispute with parent company Unilever. This move comes amidst a series of events surrounding the ice cream giant's political activism.
The planned Initial Public Offering (IPO) of Unilever's ice cream division, which includes the popular Magnum Ice Cream Company, is set to debut on the stock market in mid-November. If Ben & Jerry's investors reject the plan to sell shares during this IPO, the shares of Ben & Jerry Homemade Inc. would be acquired by other investors participating in Unilever's IPO process for that division.
The unique merger agreement between Ben & Jerry's and Unilever, which is designed to protect the brand's social mission, has been a contentious factor in this dispute. Unilever disagrees with Jerry Greenfield's perspective that the company has lost its independence due to restrictions on social activism.
In an open letter, Greenfield stated that Unilever had attempted to silence the brand's politically charged stance, a claim Unilever denies. The dialogue between the parties is aimed at strengthening Ben & Jerry's values-based position in the world.
Notably, both Greenfield and his co-founder Ben Cohen, who was arrested during a protest against the Gaza war in the US Congress, have publicly criticized Israel's policies and described the Gaza conflict as "genocide." In 2021, Ben & Jerry's announced it would stop selling in the Israeli-occupied West Bank.
Cohen said the brand had attempted to arrange a sale to investors at a market value between $1.5 and $2.5 billion amid tensions with Unilever, but the proposal was rejected. Greenfield, also a Jew, has been involved in protests against the Gaza war.
Amidst this dispute, Greenfield has expressed that he could no longer work for a company that had been "silenced" by Unilever, despite an agreement meant to protect the brand's social mission. Ben & Jerry's has sued parent company Unilever over these allegations.
The departure of Greenfield, a key figure in the company's history, marks a significant turning point in the relationship between Ben & Jerry's and Unilever. The future of the iconic ice cream brand remains uncertain as these disputes continue to unfold.
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