Market Chatter: Unilever-Owned Ben & Jerry's Chair Says She Won't Quit Ahead of Magnum Unit Listing

MT Newswires Live12-08

Unilever-owned (UL) Ben & Jerry's chair Anuradha Mittal said she has no plans to step down as Unilever prepares to list its Magnum ice-cream unit on Euronext, Reuters reported Monday, citing statements and documents.

Magnum reportedly said last month Mittal "no longer meets the criteria" after internal reviews, while Mittal called the process an attempt to weaken the independent board created in the 2000 merger, the news outlet reported.

The separation brings a long-running dispute over Ben & Jerry's activism into the new company, with filings warning of potential reputational risks, boycotts, and investor claims, Reuters reported.

An audit of the Ben & Jerry's Foundation flagged governance and control issues, Mittal and foundation trustees disputed the findings, while Unilever said the review was standard demerger governance and that Magnum is acting on it, the media outlet reported.

Unilever and Ben & Jerry's did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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