Overview
- Magnum disclosed that internal investigations found the Ben & Jerry’s board chair no longer meets the criteria to serve, without naming the chair or detailing the unmet standards.
- The company said it notified Ben & Jerry’s of the finding and will consider its options based on the response.
- The spin-off remains scheduled for a primary listing in Amsterdam on December 8, with planned secondary listings in New York and London after a roughly one-month delay linked to the U.S. government shutdown.
- Magnum warned in the filing that statements or actions by the Ben & Jerry’s board, its members or associates could harm the group’s reputation, business, financial condition and results.
- Long-running tensions over Ben & Jerry’s political activism continue, with co-founder Ben Cohen forecasting sharper conflict after the spin-off and co-founder Jerry Greenfield resigning in September citing lost independence.