"They said that they're enhancing the social mission when they're actually destroying it. They said that they're future-proofing the Board of Directors when they're actually dismantling it," Cohen told CNBC. "It's another desperate power grab."
"to preserve and enhance the brand's historical social mission and safeguard its essential integrity,"
"no longer meets the criteria to serve"
Ben Cohen criticized Magnum for actions he says are destroying Ben & Jerry's brand and social mission, calling recent measures "Orwellian" and a "desperate power grab." Magnum implemented governance changes including a nine-year board term limit, a set board cadence with engagement protocols, and an obligation to follow Magnum's code of business integrity. Three independent Ben & Jerry's directors were removed following the revisions. Magnum recently spun off from Unilever as a newly listed company. Ben & Jerry's presented the governance changes as intended to preserve and enhance the brand's historical social mission and safeguard its integrity. Chair Anuradha Mittal was told she no longer meets the criteria to serve.
Read at www.cnbc.com
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