The Soul of a Brand: Ben & Jerry’s Fight for Its Future

Ben Cohen’s crusade against Magnum Ice Cream Co.’s ownership of Ben & Jerry’s is a battle for the brand’s very soul. For decades, Ben & Jerry’s was synonymous with socially conscious business practices, but under its new ownership, that mission has been quietly dismantled.

Cohen and his co-founder Jerry Greenfield built Ben & Jerry’s on a foundation of activism and social responsibility. Their early products, such as the Peace Pop, promoted peace and justice through their branding and operations. The company’s social mission was legally equal to profit and product, and its philanthropic arm, the Ben & Jerry’s Foundation, distributed millions of dollars to social justice causes.

The relationship between Unilever and Ben & Jerry’s unraveled over two decades, culminating in a bitter legal dispute since 2024. The independent board alleges that Magnum prevented it from supporting core social causes and removed members through a nine-year term limit. Cohen describes this as an “asset-stripping campaign dressed up as governance reform.” This is not just about corporate power struggles; it’s about the values that businesses should uphold.

The Ben & Jerry’s Foundation’s decision to shut down its operations by the end of the year is a symptom of Magnum’s broader strategy. By cutting funding and imposing term limits on board members, Magnum has effectively neutralized the brand’s social mission. This may boost short-term profits but comes at the cost of long-term value – and the brand’s reputation.

Cohen’s campaign, “Free Ben & Jerry’s,” is not just about saving a beloved brand; it’s about preserving the idea that businesses can make a profit while doing good. His message resonates with customers who actively seek out brands with authenticity and attitude. However, Magnum’s response has been to dismiss Cohen as a disgruntled former owner rather than engaging with his criticisms.

The fact that Ben & Jerry’s is Magnum’s best-performing brand raises questions about the tradeoff between profits and values. Shareholders are starting to push back against this strategy, demanding stand-alone financial disclosures and explanations for how Magnum intends to preserve board independence. This internal conflict may be a sign that even within the corporate world, there are those who recognize the importance of social responsibility.

Ben Cohen’s fight is not just about Ben & Jerry’s; it’s about what kind of business model we want to see prevail. Will it be one that prioritizes profits over values or one that sees profit and purpose as mutually reinforcing? The outcome will have implications far beyond the ice cream industry – for the future of corporate social responsibility and the very soul of businesses.

As Cohen continues his campaign, Magnum would do well to listen to his criticisms rather than dismissing him as a relic of the past. By doing so, they may just find that their profits are not incompatible with their values – but only if they’re willing to take a chance on a more authentic approach to business.