- Peter ter Kulve has been appointed as the CEO of the Magnum Ice Cream Company as of Thursday.
- He is a seasoned Unilever employee, having joined the ice cream division in 1988.
- Ter Kulve played a pivotal role in establishing the Health and Wellness division, currently valued at €1 billion.
- The Magnum Ice Cream Company will officially separate from Unilever in Q4 of this year.
The Magnum Ice Cream Company (TMICC), Unilever’s newly independent ice cream division, now has its leadership in place with a newly appointed CEO.
So, who exactly is Peter ter Kulve, and how does his extensive experience equip him for this leadership role?
Profile of Peter ter Kulve
Peter ter Kulve’s appointment as CEO was confirmed on Thursday, alongside the announcement of Abhijit Bhattacharya as CFO. These leadership changes coincide with Unilever’s recent Q2 financial results.
Ter Kulve’s career with Unilever began in 1988 as a marketer in the ice cream division. He skillfully advanced to lead the entire ice cream segment prior to its separation from Unilever.
His career journey includes roles as CEO of Wall’s China, president of home care, and chief digital and growth officer among others, showcasing his diverse experience for navigating the food and beverage industry trends.
As the executive vice president of the global ice cream category, he made significant strides in emerging markets, integrated operations in North America, and spearheaded the expansion of well-known brands like Ben and Jerry’s and Magnum.
Additionally, Kulve was instrumental in founding Unilever’s health and wellness sector, which focuses on vitamins, minerals, and supplements—now valued at over €1 billion, illustrating the growth potential in food and drink consumer trends.
Beyond his professional commitments, ter Kulve is also a dedicated marathon runner, having completed 42 marathons and currently training for his 43rd.
The Future of Ice Cream
In March of last year, Unilever announced the strategic decision to spin off its ice cream business.
Since that announcement, further details regarding the demerger have come to light.
Approximately a month ago, the Magnum Ice Cream Company began operations as a standalone entity, leading up to the full demerger scheduled for Q4 of this year, when Unilever will categorize ice cream as a discontinued operation.
The company will maintain legacy brands such as Ben and Jerry’s and Magnum, ensuring continued innovation in food and drink packaging and sustainability.
Its headquarters will be located in the Netherlands, with shares listed in Amsterdam, London, and New York, signifying a global approach to food distribution trends.
