Core Points - Jerry Greenfield, co-founder of Ben & Jerry's, has resigned after 47 years, citing Unilever's failure to uphold commitments regarding social justice made during the acquisition of the brand [2][7] - The resignation highlights ongoing tensions between the founders and Unilever, particularly regarding the independence of Ben & Jerry's to address social issues [3][5] Summary by Sections Resignation Announcement - Jerry Greenfield's resignation is a significant event for Ben & Jerry's, marking the end of a 47-year partnership with the brand [2][7] - Greenfield expressed that the original agreement with Unilever was intended to protect the company's social mission and values, which he believes have been compromised [3] Unilever's Response - Unilever acknowledged Greenfield's contributions and stated that it disagrees with his perspective, emphasizing efforts to engage in constructive dialogue with both co-founders [4][7] - The company remains committed to upholding the legacy of Ben & Jerry's, focusing on its values-based position in the market [4] Historical Context - The relationship between the co-founders and Unilever has been contentious, with previous conflicts arising over social issue statements, including a lawsuit filed by the founders for alleged suppression of their views on the Gaza conflict [5]

Core Points - Jerry Greenfield, co-founder of Ben & Jerry's, announced his resignation from the company, citing a loss of independence in advocating for social and political issues as a primary reason for his departure [2][3][5] - Greenfield expressed disappointment over Unilever's influence on the brand, stating that the original agreement allowing the company to advocate for social causes has been compromised [5][10] - Unilever acquired Ben & Jerry's for $326 million in 2000, with a provision that allowed the brand to maintain its advocacy for social and political causes [4] Company and Industry Summary - Jerry Greenfield's resignation marks a significant change for Ben & Jerry's, a brand known for its commitment to social justice and political activism [2][4] - The relationship between Ben & Jerry's and its parent company, Unilever, has been strained, particularly following the brand's decision in 2021 to stop selling ice cream in Israeli settlements, leading to legal disputes [5][10] - Unilever is currently in the process of spinning off its ice cream business, which may impact the future direction and independence of Ben & Jerry's [9]

Core Insights - General Mills reported fiscal 2026 first-quarter results that exceeded Wall Street expectations, with adjusted earnings per share at 86 cents, surpassing analyst estimates of 81 cents, and revenue of $4.52 billion, slightly above projections of $4.51 billion [1] Financial Performance - Reported net sales decreased by 7% year-over-year, impacted by a 4-point drag from divestitures and acquisitions, while organic sales fell by 3% [2] - Operating profit more than doubled, increasing by 108% to $1.7 billion, primarily due to a $1.05 billion gain from the U.S. yogurt divestiture; however, adjusted operating profit declined by 18% in constant currency to $711 million [3] - Gross margin decreased by 90 basis points to 33.9% of net sales, and adjusted gross margin fell by 120 basis points to 34.2%; adjusted operating profit margin contracted by 210 basis points to 15.7% [4] - Net earnings attributable to General Mills rose by 108% to $1.2 billion [4] Segment Performance - In North America Retail, sales dropped by 13% to $2.6 billion, with an 8-point headwind from yogurt divestitures; organic sales decreased by 5%, and segment operating profit fell by 24% to $564 million [5] - North America Pet revenue increased by 6% to $610 million, aided by an 11-point lift from the Whitebridge Pet Brands acquisition; organic sales were down by 5%, and operating profit declined by 5% to $113 million due to higher input costs and SG&A [6] - North America Foodservice net sales fell by 4% to $517 million, with a 5-point headwind from yogurt divestitures; organic sales rose by 1%, while segment operating profit remained flat at $71 million [6] - International net sales grew by 6% to $760 million, including a 3-point benefit from foreign exchange; organic growth was 4%, driven by regions such as India, North Asia, and Europe; operating profit increased to $66 million from $21 million a year earlier [7] Cash Flow and Liquidity - Cash provided by operating activities was $397 million, down from $624 million the previous year; cash and equivalents at the end of the quarter stood at $953 million, compared to $468 million a year ago [7]

Core Insights - Jerry Greenfield announced his resignation from the ice-cream company he co-founded with Ben Cohen [1] Company Summary - The company is known for its ice-cream products and was co-founded by Jerry Greenfield and Ben Cohen [1]

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 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 - Nestle is undergoing significant leadership changes with the early departure of Chairman Paul Bulcke and the recent ouster of CEO Laurent Freixe, amid investor pressure and a challenging sales environment [1][7] - Pablo Isla, former Inditex CEO, will take over as chairman on October 1, tasked with revitalizing the company’s sales and focusing on fewer brands [2][3] - The management overhaul is seen as a necessary step to regain investor confidence after a more than 40% drop in share price since 2022 [3][4] Leadership Changes - Pablo Isla is the first outsider to become chairman at Nestle in 25 years, which may bring a fresh perspective to the company [3][5] - The rapid exits of Bulcke and Freixe indicate a potential shake-up in response to a tough consumer environment affecting sales [7] - New CEO Philipp Navratil, previously head of Nespresso, is expected to work closely with Isla to implement a new strategy [4][5] Strategic Focus - The new management team aims to revive sales growth by increasing investment in products and brands, with a focus on faster development and marketing of new and existing products [8] - The company is under pressure to develop a new strategy to regain confidence in capital markets [4][5] - Investors are hopeful that the changes will lead to a more stable and profitable future for Nestle [1][4]

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]

Tuesday, September 16, 2025Market indexes closed in the red across the board this day, just ahead of a sure rate cut from the Federal Open Market Committee (FOMC). The S&P 500 and Nasdaq struck new intra-day highs early in the session before breaking lower. The Nasdaq looked as if it may eke out a green close, but dipped just ahead of the bell.The Dow gave back -125 points today, -0.27%, while the S&P 500 was -8 points lower, -0.13%. The Nasdaq was virtually flat: -14 points, -0.07% — snapping a six-day win ...