Consumer goods giant Unilever announced that it will abandon its dual UK/Dutch headquarters model and instead opt to establish a single headquarters in Rotterdam, the Netherlands, to “simplify” its corporate structure.
As part of this plan, Unilever said that its two legal entities, Unilever Netherlands (N.V.) and Unilever UK (PLC), will be merged into a legal entity registered in the Netherlands.
The company said: "This reflects the shareholding situation. N.V. accounts for about 55% of the total share capital of the company's common stock, and trading liquidity is also higher than PLC stocks."
Unilever’s brands include Dove, Ben & Jerry’s Ice Cream and Marmite. The company said it will continue to list in London, Amsterdam and New York.
Before the United Kingdom planned to withdraw from the EU in 2019, the company announced the above-mentioned reform plan. The company stated that this simplification is intended to provide "higher flexibility in strategic portfolio changes."
Unilever has 7,300 employees and 3,100 employees in the United Kingdom and the Netherlands respectively. Abandoning the UK headquarters will not affect any position.