Unilever ditches plan to move to Rotterdam after shareholder pressure

[Nicky91]

https://www.unilever.com/Images/Unilever-office-sign-sky-background_tcm244-424797.jpg

Anglo Dutch group Unilever said on Friday it is ditching plans to consolidate its headquarter operations in Rotterdam following talks with shareholders.The company said in a statement it is withdrawing a proposal to ‘simplify’ its dual structure. The decision comes three weeks of a shareholders meeting to approve the move.Several large investors in the UK have come out against the decision to switch to Rotterdam and the company had been under considerable pressure to rethink.

our PM Mark Rutte isn't happy about this decision

[Nicky91]

Unilever owns over 400 brands, with a turnover in 2016 of 52.7 billion euros, and in 2017 of 53.7 billion euros [8]and thirteen brands with sales of over one billion euros:[9] Axe/Lynx, Dove, Omo, Heartbrand ice creams, Hellmann's, Knorr, Lipton, Lux, Magnum, Rexona/Degree, Sunsilk and Surf.[7] It is a dual-listed company consisting of Unilever plc, based in London, and Unilever N.V., based in Rotterdam. The two companies operate as a single business, with a common board of directors. Unilever is organised into four main divisions – Foods, Refreshment (beverages and ice cream), Home Care, and Personal Care. It has research and development facilities in the United Kingdom (two), the Netherlands, China, India and the United States.

source Wikipedia, for those who don't know Unilever

https://en.wikipedia.org/wiki/Unilever

[Crimson Dynamo]

:fist:

I am so angry for Rotterdam right now

:sad:

[Nicky91]

:fist:

I am so angry for Rotterdam right now

:sad:

Unilever director Polman had said the main reason for ditching this plan was the decision to scrap the tax

https://www.dutchnews.nl/news/2018/10/cabinet-to-reconsider-scrapping-dividend-tax-after-unilever-pullout/

this is what Rutte also had to say

[Livia]

The shareholders said, move out of the country and we'll sell up. I'm sure the thousands of Unilever employees in the UK are breathing a sigh of relief.