08 October 2018
Unilever, Britain’s third biggest company, has abandoned plans to move its headquarters out of the UK amid mounting opposition from investors.
The Anglo-Dutch consumer goods giant said it was scrapping proposals to consolidate its corporate structure in the Netherlands.
The announcement on Friday followed weeks of pressure from major shareholders in the company, which owns household brands including Marmite, Dove and Ben & Jerry’s.
In a statement, Unilever said: “We have had an extensive period of engagement with shareholders and have received widespread support for the principle behind simplification. However, we recognise that the proposal has not received support from a significant group of shareholders and therefore consider it appropriate to withdraw.”
However, chairman Marijn Dekkers added, Unilever’s board continued to believe that simplifying the company’s structure was in its best interests.