Latest news with #PeterTerKulve
Times
4 days ago
- Business
- Times
Unilever and Ben & Jerry's row set to intensify with new boss
The already frosty relationship between Unilever and Ben & Jerry's looks set to get colder with the appointment of a contentious new ice cream boss. Unilever has proposed Peter ter Kulve to head the Magnum Ice Cream Company, its soon-to-be spun-off ice cream division that will house Ben & Jerry's, Cornetto and Wall's. The appointment is expected to be approved by Unilever's board in July before a planned listing this year. The FTSE 100 consumer goods group is set to have its primary listing in Amsterdam, with secondary listings in New York and London. Ter Kulve's appointment could be seen as a lightning rod for tension. He is named in a lawsuit by Ben & Jerry's, which accused him of 'eye-popping' ignorance and of undermining the brand's longstanding commitment to political and social activism — a mission central to the Vermont-founded business since it was founded in 1978. It marks the latest flashpoint in an increasingly bitter dispute. In March Ben & Jerry's accused Unilever of ousting its chief executive, David Stever, over his stance on social issues, claiming the decision was taken without the board's consent. The brand said Stever had been penalised for upholding its 'social mission'. The rift dates back to 2021 when Ben & Jerry's announced it would no longer sell its products in the Israeli-occupied West Bank, stating the mode was incompatible with its values. That decision sparked a backlash, including pressure from pro-Israel investors, some of whom sold their Unilever shares. Unilever subsequently sold the brand's Israeli business to a local licensee, a move that triggered a lawsuit from Ben & Jerry's, which was settled in 2022. But relations deteriorated again last November when Ben & Jerry's filed a new legal complaint, alleging that Unilever was violating the terms of the 2022 agreement by trying to suppress the brand's political messaging. The lawsuit claimed Unilever had issued repeated threats to staff, including Stever, in an effort to stifle the brand's advocacy, including its support for Palestinian refugees. In a further escalation, Unilever threatened in April to halt the $5 million in annual funding that it provides to Ben & Jerry's non-profit organisation. The consumer goods group was said to have asked the Ben & Jerry's Foundation to agree to an expedited audit of its donations if it was to continue its funding of the non-profit organisation. Ben Cohen, a co-founder of Ben & Jerry's, was reported this year to be exploring a potential bid to buy the ice cream brand back. Cohen founded the company with his childhood friend Jerry Greenfield in a petrol station in Vermont in 1978 and sold it to the FTSE 100 consumer goods group in 2000. Ben & Jerry's was contacted for comment.
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-Unilever proposes Peter ter Kulve as CEO of listed ice cream unit
By Jessica DiNapoli and Richa Naidu LONDON (Reuters) -Unilever said on Tuesday that it has proposed its soon-to-be listed ice cream business will be led by Peter ter Kulve, whom the Ben & Jerry's board has accused in lawsuits of "eye-popping" ignorance and muzzling its social purpose policies. "Approval of the full board of The Magnum Ice Cream Company by the Unilever board is anticipated in July 2025," a Unilever spokesperson said in an emailed statement. Ter Kulve, who is currently the ice cream business' president, would become CEO of the Magnum Ice Cream Company (TMICC) that will list in Amsterdam by the end of the year. TMICC is home to six of the world's top 10 ice cream brands, including Ben & Jerry's, Cornetto and Wall's, and generated turnover of 8.3 billion euros ($9.59 billion) in 2024. The news deals a blow to the independent board of Ben & Jerry's, which has in recent years been publicly at odds with ter Kulve and its parent company. A representative for the board did not immediately respond to a request for comment. A spokesperson for Ben & Jerry's did not immediately respond for comment. ($1 = 0.8655 euros)
Reuters
4 days ago
- Business
- Reuters
Exclusive: Unilever proposes Peter ter Kulve as CEO of listed ice cream unit
LONDON, June 17 (Reuters) - Unilever said on Tuesday that it has proposed its soon-to-be listed ice cream business will be led by Peter ter Kulve, whom the Ben & Jerry's board has accused in lawsuits of "eye-popping" ignorance and muzzling its social purpose policies. "Approval of the full board of The Magnum Ice Cream Company by the Unilever board is anticipated in July 2025," a Unilever spokesperson said in an emailed statement. Ter Kulve, who is currently the ice cream business' president, would become CEO of the Magnum Ice Cream Company (TMICC) that will list in Amsterdam by the end of the year. TMICC is home to six of the world's top 10 ice cream brands, including Ben & Jerry's, Cornetto and Wall's, and generated turnover of 8.3 billion euros ($9.59 billion) in 2024. The news deals a blow to the independent board of Ben & Jerry's, which has in recent years been publicly at odds with ter Kulve and its parent company. A representative for the board did not immediately respond to a request for comment. A spokesperson for Ben & Jerry's did not immediately respond for comment. ($1 = 0.8655 euros)
