Oil major Shell will do away with its dual-share system and keep a single line of shares, as it looks to boost shareholder payouts through stock buybacks and simplify its structure for investors.
The company also plans to move its tax residence to the United Kingdom, its country of incorporation, from the Netherlands, it said.
Strengthen Shell's Competitiveness
"The simplification is designed to strengthen Shell's competitiveness and accelerate both shareholder distributions and the delivery of its strategy to become a net-zero emissions business," Shell said.
"The current complex share structure is subject to constraints and may not be sustainable in the long term," the company added.
The company also expects to change its name to Shell Plc from Royal Dutch Shell Plc.