‘They ain’t got no soul’: How Ben & Jerry’s co-founder became his own company’s biggest critic

Introduction: A Legacy of Activism

In the world of ice cream, few names are as synonymous with social activism as Ben & Jerry's. Founded in 1978 by childhood friends Ben Cohen and Jerry Greenfield in a converted gas station in Burlington, Vermont, the brand has always prided itself on blending business with a purpose. However, as the company finds itself under the ownership of The Magnum Ice Cream Company—a subsidiary formed from a demerger with Unilever in 2025—its co-founder Ben Cohen has become a vocal critic of the very entity that now controls his legacy.

With nearly five decades of experience advocating for a business model that intertwines profit and social responsibility, Cohen's recent efforts to reclaim the soul of Ben & Jerry's have taken on a life of their own. His campaign, dubbed "Free Ben & Jerry's," has amassed over 200,000 signatures, reflecting a significant grassroots movement against what Cohen describes as a hollowing out of the brand’s founding principles.

Cohen's Vision: Profit with Purpose

Cohen's philosophy rests on the belief that businesses wield considerable power to effect change. In his view, the dual mission of social good and profit is not only achievable but mutually reinforcing. “Businesses have power,” Cohen states, “You can use that power for profit or to make the world a better place.”

This vision was enshrined in the company’s operational model when, in 1985, Ben & Jerry's established the Ben & Jerry's Foundation, committing 7.5% of its pretax profits to social justice causes. Over the years, this initiative has distributed more than $70 million to various social causes, reinforcing the brand's identity as not just an ice cream manufacturer but a champion of social change.

The Shift in Ownership: A New Era

The sale of Ben & Jerry's to Unilever in 2000 for $326 million came with the promise of maintaining an independent board to oversee the brand's social mission. This arrangement was historically viewed as a model for how a values-driven company could thrive within a larger corporate structure without losing its ethos. However, the harmony that once characterized this relationship has deteriorated over the years.

By 2025, as the brand transitioned to The Magnum Ice Cream Company, cracks began to show. Cohen alleges that Magnum has systematically dismantled the independent board that was meant to protect Ben & Jerry's social mission. The introduction of a nine-year term limit for board members and the termination of funding for the Ben & Jerry's Foundation serve as focal points in this contentious dispute. Cohen describes these moves as a “campaign dressed up as governance reform,” fearing that Magnum is prioritizing profit over the brand's foundational values.

Legal Battles: The Courtroom and the Court of Public Opinion

The ongoing legal battle between Ben & Jerry's independent board and Magnum highlights the tension between profit-driven motives and social responsibility. The board claims that Magnum has prevented it from supporting causes central to its mission, resulting in a significant reduction in philanthropic activity. In April 2025, Magnum announced cuts to the Foundation’s funding, which ultimately led to its closure by the end of the year.

A spokesperson for Magnum has dismissed these allegations, labeling them a “mischaracterization of events.” They argue that the independent directors' actions led to their ineligibility for service and assert that the introduction of term limits was a common corporate practice. Despite the legal intricacies, Cohen's response has been to take his fight public, leveraging media attention and grassroots support to amplify his message.

At a recent annual meeting, Cohen orchestrated a protest where a demonstrator dressed in a Magnum-cone costume interrupted proceedings to call for a boycott of the brand. The stark visual of a beloved character protesting against its own parent company encapsulates the emotional stakes of this dispute.

Investor Sentiment: A Divided Stakeholder Base

Cohen's protests have resonated not only with consumers but also with a faction of Magnum's investor base. A coalition led by NorthStar Asset Management and the Dutch sustainable-investment group VBDO has expressed discomfort with Magnum's direction, urging the board to provide standalone financial disclosures for Ben & Jerry's. They emphasize that the brand's social mission is integral to its market value and equity.

This sentiment reflects a broader trend among investors who are increasingly prioritizing environmental, social, and governance (ESG) criteria in their investment decisions. The disconnect between Magnum's profit-centric focus and the social mission that Ben & Jerry's was built upon has sparked concern among stakeholders who recognize that brand equity goes beyond mere financial metrics.

The Broader Implications: A Call for Corporate Accountability

Cohen's activism serves as a powerful reminder of the ongoing struggle for corporate accountability. In an age where businesses wield tremendous influence over social and environmental issues, Cohen believes that many corporations are retreating from their commitments to meaningful social change. “There’s a failure of corporate nerve,” he asserts, pointing to a broader trend where companies shy away from taking public stances on controversial issues.

This situation is not unique to Ben & Jerry's. Many brands that once stood for progressive values find themselves navigating the complexities of profit maximization in a competitive marketplace. As companies face pressure from shareholders to deliver short-term results, the long-term commitment to social missions often takes a back seat.

However, some companies continue to defy this trend. Brands like Patagonia and Dr. Bronner's have managed to balance commercial success with a robust social mission. Patagonia's recent ownership transition to a trust and nonprofit structure demonstrates a commitment to channel profits into fighting climate change, while Dr. Bronner's unique compensation structure and dedication to social justice initiatives showcase a sustainable business model that prioritizes purpose alongside profit.

Looking Ahead: The Future of Ben & Jerry's

As Cohen's campaign gains momentum, the future of Ben & Jerry's hangs in the balance. The impending federal court ruling in New York will be crucial in determining the fate of the brand's social mission and its operational autonomy under Magnum's ownership. Cohen remains undeterred, emphasizing the necessity of fighting for justice in the corporate world.

“The nature of working for justice is to fight injustice,” he states, embodying the spirit of activism that has characterized his career. Whether Ben & Jerry's can reclaim its identity as a socially responsible brand or be relegated to just another profit-driven entity will depend on the outcome of this legal battle and the ongoing public discourse surrounding corporate social responsibility.

Conclusion: A Call to Action

Ben Cohen's passionate defense of Ben & Jerry's values serves as a rallying cry for consumers and investors alike. In an era where corporate ethics are increasingly scrutinized, his fight underscores the importance of holding businesses accountable to their founding principles. As the line between profit and purpose continues to blur, the outcome of this dispute may set a precedent for how brands can maintain their commitments to social responsibility while navigating the complexities of modern capitalism.

In a world that often prioritizes profit over principles, Cohen reminds us that it is possible—and necessary—to strive for a balance where businesses can thrive while also making a positive impact. His campaign, "Free Ben & Jerry's," not only seeks to reclaim the company's soul but also reinforces a broader conversation about the role of business in society. The outcome of this battle could redefine the future of socially responsible enterprises and inspire a new generation of brands to commit to their principles in the face of adversity.