Core Viewpoint - Jerry Greenfield, co-founder of Ben & Jerry's, has resigned after nearly 50 years, citing a loss of independence and accusing Unilever of silencing the brand's social mission [1][2][3] Company Background - Ben & Jerry's was founded in 1978 with a mission to advance human rights and dignity, and it became one of the largest ice cream brands in the US [11][12] - In 2000, Unilever acquired Ben & Jerry's for $326 million, with an agreement to maintain an independent board to uphold the brand's social values [13] Recent Developments - Greenfield's resignation follows a dispute over Unilever's decision to sell Ben & Jerry's Israel division, which contradicted the brand's social mission [4] - Ben & Jerry's had previously launched legal action against Unilever for threatening to dismantle its board over public statements supporting Palestinians [5] - Cohen and Greenfield have sought investors to buy back the brand, valuing it between $1.5 billion and $2.5 billion, but Unilever has refused to sell [7] Brand's Social Mission - Greenfield expressed disappointment that the independence, which was a basis for the sale to Unilever, has been lost, stating that if the company cannot stand up for its beliefs, it is not worth being a company [3] - An open letter from Cohen and Greenfield called for the brand to be released from Unilever's control, arguing that the dismantling of its social mission has devalued the business [6] Unilever's Position - A spokesperson for TMICC (the new ice cream division of Unilever) stated that they disagreed with Greenfield's perspective and sought constructive dialogue with the co-founders [8]

Core Viewpoint - Jerry Greenfield, co-founder of Ben & Jerry's, has resigned due to growing tensions with parent company Unilever over its stance on the Israel-Hamas conflict in Gaza [1][4]. Group 1: Company Background - Ben & Jerry's was founded in 1978 by Jerry Greenfield and Ben Cohen in a renovated gas station and has maintained a socially conscious mission since its acquisition by Unilever in 2000 [8]. - The company has been involved in a legal dispute with Unilever, alleging efforts to silence its political activism, particularly regarding its stance on the Gaza conflict, which it described as "genocide" [6]. Group 2: Leadership and Values - Greenfield expressed that he could no longer work for a company that he believes has been "silenced" by Unilever, emphasizing the importance of pursuing values and social justice [4][6]. - He highlighted that Unilever had previously guaranteed Ben & Jerry's independence to uphold its values when it acquired the company over 20 years ago [2]. Group 3: Current Developments - The resignation of Greenfield marks a significant moment in the ongoing conflict between Ben & Jerry's and Unilever, which has been escalating since 2021 when the ice cream maker announced it would cease sales in the West Bank [4]. - Unilever's ice cream unit, Magnum, has publicly disagreed with Greenfield's perspective and has sought constructive dialogue with the co-founders to strengthen the brand's values-based position [6].

Core Insights - Jerry Greenfield, co-founder of Ben & Jerry's, has stepped down after nearly 50 years due to conflicts with parent company Unilever regarding the company's ability to address global issues, particularly the conflict in Gaza [2][3] Group 1: Company Independence and Activism - The departure of Greenfield highlights a significant loss of independence for Ben & Jerry's, which was a key aspect of its merger with Unilever in 2000 for $326 million [3][4] - Ben & Jerry's has a history of vocal social activism, including a decision in 2021 to stop selling products in the Israeli-occupied West Bank in response to the Gaza conflict [3] Group 2: Unilever's Position - Unilever disagrees with Greenfield's perspective and claims to have engaged in constructive conversations with both co-founders to strengthen the brand's values-based position [5] - Unilever remains committed to Ben & Jerry's three-part mission, which includes product, economic, and social aspects, and is focused on continuing the legacy of the brand as part of the new Magnum Ice Cream Company [5]

Ben & Jerry’s co-founder Jerry Greenfield said he is quitting the company after 47 years, ahead of Unilever’s planned spinoff of its ice-cream business as a separate entity https://t.co/wH7ktu8WrN ...

Core Viewpoint - The departure of Jerry Greenfield from the ice-cream brand is attributed to the company's inability to support social justice issues that are fundamental to its business [1] Company Summary - Jerry Greenfield's exit highlights a potential shift in the company's stance on social justice, which may impact its brand identity and customer perception [1]

Core Insights - Jerry Greenfield, co-founder of Ben & Jerry's, has resigned from the company, indicating a significant shift in the brand's leadership and potentially its direction [1] Company Summary - The departure of Jerry Greenfield, a key figure in shaping the Ben & Jerry's brand, highlights ongoing tensions between the company and its parent organization, Unilever [1]

Core Insights - The Magnum Ice Cream Co. is focusing on increasing ice cream consumption during Indian festivals, particularly Diwali, to create "ice cream moments" similar to other global occasions [1][2] - The company aims to expand its distribution network and enhance premiumization strategies to drive growth in the Indian market [1][6] Company Overview - Magnum Ice Cream Co. generated a turnover of €8.3 billion ($9.6 billion) in 2024 and holds over 20% of the global ice cream market share [4] - The company is in the process of separating from Unilever and will be incorporated in the Netherlands, with shares expected to list in Amsterdam, London, and New York in mid-November [4] Market Dynamics - India's ice cream market is projected to grow from $3.4 billion in FY23 to over $5 billion by FY25, indicating significant growth potential [5] - Per capita ice cream consumption in India is low at 600 ml per annum, compared to 5 liters in Turkey, but is four to five times higher in metropolitan areas [3] Distribution Strategy - The growth of the ice cream business in India is heavily reliant on the availability of chillers and pushcarts for product distribution [6][7] - The company recognizes the need for more freezers in small stores across India to enhance distribution capabilities [7] Competitive Landscape - The company identifies Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), known for its Amul brand, as a significant competitor in the Indian market [8] - The ice cream category is expected to grow at a rate of 3% to 4% annually, driven by factors such as disposable income, consumption occasions, and premiumization [9]

Group 1 - Indian-origin executive Srinivas Pathak has been appointed as the new Chief Financial Officer of Unilever PLC, replacing Fernando Fernandez, who has been promoted to Chief Executive Officer [1] - Phatak has been serving as the acting CFO since March 2023 and was previously the Deputy Chief Financial Officer and Group Controller [2] - The Unilever Board unanimously agreed that Phatak is the best candidate for the CFO role due to his strong industry experience and performance as acting CFO [2] Group 2 - Srinivas Phatak will receive an annual fixed pay of €1.2 million ($1.4 million) along with eligibility for an annual bonus and performance share plan awards [3] - Phatak is a Chartered Accountant and has over 25 years of experience with Unilever, having held various finance and commercial roles [4] - He was previously CFO for Hindustan Unilever Limited and played a key role in Unilever's enterprise-wide transformation projects [4] Group 3 - Phatak steps into the CFO position at a pivotal time as Unilever prepares to spin off its ice cream business and streamline management to bolster margins [5]

Core Viewpoint - Unilever has appointed Srinivas Phatak as its new finance chief, with the board unanimously supporting the decision after his strong performance in an interim role earlier this year [1] Group 1 - The appointment of Srinivas Phatak reflects the board's confidence in his capabilities, indicating a positive outlook for Unilever's financial leadership [1] - Phatak's interim performance was highlighted as a key factor in the board's decision, suggesting that he has already made a significant impact in the role [1]

Group 1 - The Magnum Ice Cream Company held its first Capital Markets Day, indicating a significant step in its journey towards becoming a stand-alone listed company [1] - The company started the demerger process in March 2024 and has been operating as a stand-alone entity within Unilever since July 1 of this year [2] - A sell-side analyst visit to Turkey was hosted at the end of June, showcasing the company's engagement with investors [2]