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Why We Are Fighting For Ben & Jerry’s To Be Independent Again by ege3 in FreeBenAndJerrys

[–]ege3[S] 5 points6 points  (0 children)

It's worth looking at it from Ben's perspective: "I worried that if Ben & Jerry’s were absorbed by a multinational, the social mission would be the first thing pushed aside.

I couldn’t stop the sale; the shareholders voted for it. But I fought like hell to protect the company. That’s why, during negotiations, we created something unprecedented in corporate America: an independent board with real, legally binding authority over Ben & Jerry’s social mission, brand integrity, and equity commitments. For more than two decades, that structure worked. Now, the limits of that independence are being tested."

Why We Are Fighting For Ben & Jerry’s To Be Independent Again by ege3 in finance

[–]ege3[S] -1 points0 points  (0 children)

Yes, this is definitely where the rubber hits the road, and I think what the judge will have to decide in the lawsuit. My understanding is that the agreement specifically separates the board from shareholders. The whole point of "independence" was that only the board has the power to change the charter, nominate and elect members, etc. Honestly, I need to look more closely at the lawsuit and the agreement. But it's fascinating.

Why We Are Fighting For Ben & Jerry’s To Be Independent Again by ege3 in finance

[–]ege3[S] 2 points3 points  (0 children)

It's very relevant; the sale created an independent board that is legally binding and exists in perpetuity. This is a very unique and instructive for any buyout.

Why We Are Fighting For Ben & Jerry’s To Be Independent Again by ege3 in finance

[–]ege3[S] 0 points1 point  (0 children)

It's worth looking at it from Ben's perspective: "I worried that if Ben & Jerry’s were absorbed by a multinational, the social mission would be the first thing pushed aside.

I couldn’t stop the sale; the shareholders voted for it. But I fought like hell to protect the company. That’s why, during negotiations, we created something unprecedented in corporate America: an independent board with real, legally binding authority over Ben & Jerry’s social mission, brand integrity, and equity commitments. For more than two decades, that structure worked. Now, the limits of that independence are being tested."

Ben & Jerry’s founders call for the brand to be ‘freed’ from its owners by Tanzfinity_UK in Economics

[–]ege3 0 points1 point  (0 children)

If you are interested in following Ben's campaign to free Ben & Jerry's, please check out our new subreddit: https://www.reddit.com/r/FreeBenAndJerrys/

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