Ben & Jerry’s founders demand independence from Unilever as ice-cream brand plans to operate autonomously. The separation, set for mid-November, will see TMICC listed on major stock exchanges, incorporating various global ice-cream brands. Founders express concerns over Unilever’s alleged failure to uphold Ben & Jerry’s autonomy and social mission.
Cohen and Greenfield accuse Unilever of stifling Ben & Jerry’s social justice advocacy. Legal battles have ensued, including accusations of silencing activism and criticism of political figures. Unilever previously sold its Israeli ice-cream operation amidst tensions with Ben & Jerry’s actions in the region. Founders urge Unilever to allow Ben & Jerry’s to operate independently with socially aligned investors.
Unilever insists Ben & Jerry’s remains part of TMICC, reaffirming commitment to the brand’s unique mission. Capital markets day reveals Unilever will retain 20% stake in the business post-split, gradually decreasing. Expectation of €800m in separation costs with 0.8% of group revenues allocated to restructuring. TMICC aims for organic growth post-2026. 1. The United States has officially rejoined the Paris climate agreement, a significant move in the fight against climate change. President Biden signed an executive order to reenter the agreement, which aims to limit global warming to well below 2 degrees Celsius.
2. A winter storm has brought heavy snowfall and freezing temperatures to parts of the United States, causing power outages and dangerous road conditions. Millions of people are being urged to stay home and take precautions to stay safe during the severe weather.
3. The COVID-19 vaccine rollout continues across the country, with more than 26 million doses administered so far. Efforts are being made to increase distribution and speed up the vaccination process to reach herd immunity and bring an end to the pandemic.
4. GameStop stock prices have soared in a battle between individual investors and hedge funds on Wall Street. The stock, which was previously struggling, saw a dramatic increase in value as small investors rallied together on social media platforms like Reddit.
5. Tesla reported record profits in the fourth quarter of 2020, driven by strong sales of electric vehicles. The company’s stock price surged as a result, making CEO Elon Musk the world’s richest person. Tesla’s success has highlighted the growing demand for sustainable transportation options.
Read more at Yahoo Finance: Ben & Jerry’s calls for independence post Unilever’s ice cream spin-off