Unilever’s Retail Followers Stay Cautious As Ben & Jerry's Alleges CEO David Stever’s Ouster Linked To Political Activism

U.S.-listed Unilever was in the spotlight this week after subsidiary Ben & Jerry’s accused its parent of ousting its CEO David Stever for his political activism.

Ben & Jerry's reportedly said Unilever informed earlier this month that it would be  "removing and replacing" Stever, without the requisite board approval mandated as per its earlier merger agreement with Unilever.

The Wall Street Journal reported on Thursday that the ice cream makers’ founders, Ben Cohen and Jerry Greenfield, have also this week sent a message of support to the company’s employees.

“Dave has been a tireless champion of this company and its progressive values,” said the founders, who are no longer members of the brand’s independent board, WSJ reported. “We believe there’s no one better to lead Ben & Jerry’s at this moment in its history.”

The report noted that Ben & Jerry’s alleged that the ouster was unrelated to any job performance issues, and that Unilever had allegedly violated the terms of a merger agreement.

According to several media reports, the ice cream company had filed a lawsuit in the U.S. District Court for the Southern District of New York saying the latter had "repeatedly threatened Ben & Jerry's personnel, including CEO David Stever, should they fail to comply with Unilever's efforts to silence the social mission.”

Sentiment on Stocktwits stayed ‘cautious’ on Thursday. Message volume remained in the ‘extremely low’ zone.

One watcher on Stocktwits remarked that political activism had no place in business.

Ben & Jerry's has been known to support progressive issues, including LGBTQ+ rights and climate change.

Unilever bought Ben & Jerry in 2000 in a merger deal that mandated its board would try to uphold its brand's values and mission.

Unilever also recently announced that CEO Hein Schumacher is stepping down from his position by mutual agreement.

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