Unilever Picks Rotterdam Over London As Head Office
Unilever has recently announced that it will make Rotterdam it's head office over London, according to a publication entitled ‘Building the Unilever of the Future’, that it released today.
In terms of the new corporate structure of the group, Unilever NV and Unilever PLC will now be combined into a single legal entity in the Netherlands, which the company said ‘reflects the fact that the shares in N.V. account for approximately 55% of the group’s combined ordinary share capital, and trade with greater liquidity than PLC shares’.
The consumer goods company said that the simplification of its head office structure will ‘provide greater flexibility for strategic portfolio change and help drive long-term performance’.
Unilever shares will, however, continue to be listed in London, Amsterdam and New York, and no jobs will be affected by the move.
“Unilever’s Board is fully committed to delivering long-term performance and sustainable value for shareholders,” said Marijn Dekkers, Unilever chairman.
The group also outlined that that that it was ‘evolving’ its category makeup around three divisions: Beauty & Personal Care, Home Care and Foods & Refreshment.
Dekkers added: “The Board believes the move to three Divisions and the simplification of our corporate structure will create a simpler, more agile and more focused company with increased strategic flexibility for value-creating portfolio change. Our decision to headquarter the Divisions in the UK and the Netherlands underscores our long-term commitment to both countries.”
Both the Beauty & Personal Care Division and the Home Care Division will be located in London, which the group said secures ‘nearly £1 billion per year of continued spend in the UK’.
Its Foods & Refreshment Division will continue to be based in Rotterdam.
© 2018 - Checkout Magazine by Donna Ahern