Overview
- In an SEC filing, Magnum reported that probes by external advisers concluded the current chair of Ben & Jerry’s independent board no longer meets service criteria, without naming the chair or specifying the failings.
- Magnum said it has informed Ben & Jerry’s board of the finding and will consider its options depending on the board’s response.
- The 2000 merger agreement created an independent Ben & Jerry’s board, making most member changes subject to a board majority, which could constrain any removal effort.
- Magnum warned of an ongoing risk that statements or actions by the Ben & Jerry’s board or its associates could harm the group’s reputation, business and financial results.
- The ice‑cream business is set to list in Amsterdam in early December after a roughly one‑month delay attributed to the U.S. government shutdown.