Finance
Former Ben & Jerry's directors challenge Magnum efforts to shape independent board
Published by Global Banking & Finance Review®
Posted on January 30, 2026
2 min readLast updated: January 30, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 30, 2026
2 min readLast updated: January 30, 2026
Former Ben & Jerry's directors challenge Magnum's board appointments, alleging corporate overreach and defending the board's independence in a U.S. court.
By Alexander Marrow
LONDON, Jan 30 (Reuters) - Directors removed from Ben & Jerry's independent board have challenged in a U.S. court filing The Magnum Ice Cream Company's plans to appoint new directors, accusing it of corporate overreach.
Unilever retains a 19.9% stake in Ben & Jerry's owner Magnum, which formed when the consumer goods conglomerate spun off its ice cream unit in December.
Since 2024, Vermont-based Ben & Jerry's and its independent board have fought Unilever, and now Magnum, in a U.S. District Court in New York over what they say are efforts to undermine the brand's social mission and the board's autonomy.
Ben & Jerry's Board Chair Anuradha Mittal was ousted in December after Magnum deemed her unfit to serve and five other directors have now left the board as Magnum introduced nine-year term limits and demanded compliance with its code of business integrity.
The relationship between Ben & Jerry's and its parent company began unravelling in 2021 when Ben & Jerry's said it would stop selling in the Israeli-occupied West Bank and deteriorating ties were a constant thorn in Magnum's side as it prepared to list.
Magnum, which had no immediate comment on Friday, has said it remains committed to supporting the Ben & Jerry's team and looks forward to the development of a "refreshed" board.
The former directors said in a statement accompanying a January 29 court filing that Magnum's assertion that it can appoint an independent board chair, as reported by the Wall Street Journal last week, was wrong.
"A chair appointed by the parent company is not independent—by definition," the former directors said, pointing out that only an independent board can appoint or remove independent directors.
"That authority was intentionally withheld from the parent company to ensure Ben & Jerry’s independence — and it remains so today," the directors said.
(Reporting by Alexander Marrow; Editing by Emelia Sithole-Matarise)
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in its operations.
A board of directors is a group of individuals elected to represent shareholders and oversee the activities of a company, ensuring it operates in the best interests of its stakeholders.
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