Unilever has proposed Peter ter Kulve as the incoming CEO of its newly formed Magnum Ice Cream Company, the group’s ice cream division, with full board approval expected shortly. The announcement comes as Unilever prepares to spin off its ice cream business, including global brands such as Ben & Jerry’s, ahead of a planned Amsterdam listing by the end of 2025.

Ter Kulve currently serves as Unilever’s president of ice cream and previously led the company’s home care division. A spokesperson confirmed: “It is proposed that Peter ter Kulve will become CEO of The Magnum Ice Cream Company. Approval of the full board of The Magnum Ice Cream Company by the Unilever PLC Board is anticipated in July 2025.”

The newly formed Magnum Ice Cream Company will act as the parent entity for Unilever’s global ice cream brands. The appointment arrives amid ongoing tensions between Unilever and Ben & Jerry’s, including a March 2025 lawsuit over the removal of the brand’s CEO and disputes regarding the company’s advocacy on geopolitical issues, such as calls for a ceasefire in Gaza. In November 2024, Ben & Jerry’s also filed a lawsuit alleging that Unilever attempted to block the brand from expressing support for Palestinian refugees. Reports earlier this year indicated that Ben & Jerry’s was exploring buyback options.

Ben & Jerry’s, acquired by Unilever in 2000 for $326 million, is estimated to be the third-largest ice cream brand globally, according to Warren Ackerman, an analyst at Barclays. Ackerman noted that the outcome of ter Kulve’s appointment could influence investor sentiment, particularly given ongoing disputes and the upcoming spin-off.

Unilever’s ice cream division reported a combined turnover of €8.3 billion in 2024, highlighting its significance within the group’s portfolio. A formal confirmation of ter Kulve’s appointment is expected following a July board meeting.