03.15.18
Unilever has announced that as part of its transformation into “simpler, more agile and more focused business,” the firm is creating three business divisions and will move its corporate headquarters to The Netherlands.
The headquarters of the Beauty & Personal Care Division and the Home Care Division will be located in London, a move that Unilever said “secures nearly £1 billion per year of continued spend in the UK, including a significant commitment to R&D.”
The headquarters for the third division—Foods & Refreshment—will continue to be based in Rotterdam.
Unilever also intends to simplify from two legal entities, N.V. and PLC, into a single legal entity incorporated in the Netherlands.
The proposed simplification will provide greater flexibility for strategic portfolio change and help drive long-term performance, according to the company.
“Unilever’s Board is fully committed to delivering long-term performance and sustainable value for shareholders. 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. The changes announced today also further strengthen Unilever’s corporate governance, creating for the first time in our history a ‘one share, one vote’ principle for all our shareholders,” said Marijn Dekkers, chairman.
The headquarters of the Beauty & Personal Care Division and the Home Care Division will be located in London, a move that Unilever said “secures nearly £1 billion per year of continued spend in the UK, including a significant commitment to R&D.”
The headquarters for the third division—Foods & Refreshment—will continue to be based in Rotterdam.
Unilever also intends to simplify from two legal entities, N.V. and PLC, into a single legal entity incorporated in the Netherlands.
The proposed simplification will provide greater flexibility for strategic portfolio change and help drive long-term performance, according to the company.
“Unilever’s Board is fully committed to delivering long-term performance and sustainable value for shareholders. 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. The changes announced today also further strengthen Unilever’s corporate governance, creating for the first time in our history a ‘one share, one vote’ principle for all our shareholders,” said Marijn Dekkers, chairman.
