USA | Unilever has announced a revision to the timetable for the demerger of The Magnum Ice Cream Company due to the ongoing US federal government shutdown.
The preparatory work for the Demerger is on track and progressing well, and Unilever remains committed to and confident of implementing the Demerger in 2025. Further updates on the revised timetable will be provided as soon as practicable.
The revision to the timetable has arisen because the US Securities and Exchange Commission is currently unable to declare effective the US registration statement required for The Magnum Ice Cream Company N.V. shares to be admitted to listing and trading on the New York Stock Exchange.
The Magnum Ice Cream Company announced the composition of its Board of Directors in anticipation of its demerger from Unilever and listing on Euronext Amsterdam, the London Stock Exchange and the New York Stock Exchange.
TMICC will be governed by a one-tier Board structure, comprising both Executive and Non-Executive Directors. The new Board brings together global leadership, deep industry expertise and a shared passion for creating extraordinary ice cream experiences that bring joy to people around the world.
"It will be a privilege to serve as Chair as The Magnum Ice Cream Company enters an exciting new chapter. With the support of a talented and diverse Board of Directors, alongside our dedicated team and global partners, I look forward to shaping our long-term vision, building on our legacy and defining the future of ice cream together," said Jean-François van Boxmeer, Chair of The Magnum Ice Cream Company.
Peter ter Kulve, CEO of The Magnum Ice Cream Company, added that he began his career in ice cream almost 30 years ago and it has always been the category that excited him the most in FMCG.
"The opportunity to take a business that is already #1 in the sector and establish it as a pure-play independent company and deliver on its growth potential is a unique privilege. I am proud to serve alongside such a talented and diverse group of leaders and team members around the world," he added.
"TMICC will be more agile, customer-centric and ambitious than ever before. By driving sustainable growth, innovation and performance, we will do what we do best, bring moments of indulgence and delight to more people globally every day."
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