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00:03The Magnum Ice Cream Company accused Ben & Jerry's former board chair,
00:06Anuradha Mittal, of misconduct, and said the brand's board had been reduced to two directors,
00:13according to Reuters.
00:15Magnum became Ben & Jerry's parent in December after Unilever spun off its ice cream business
00:20and retained a 19.9% stake. In a January 20th filing in U.S. District Court in New York,
00:26Magnum said Ben & Jerry's CEO and a Unilever appointee were the only remaining directors
00:32after Mittal's removal and the departure of other independent members.
00:36Since 2024, Ben & Jerry's and its independent board have been in a U.S. District Court case
00:43in New York against Unilever and later Magnum, alleging efforts to undermine the brand's
00:48social mission and board autonomy. Magnum cited an Ernst & Young audit of the Ben & Jerry's
00:55foundation and said directors failed to comply with its integrity code.
01:00Mittal rejected the claims while Magnum said it aims to form a refreshed independent board.
01:04For all things money, visit Benzinga.com.
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