Unilever Bows Out of Moving HQ to Rotterdam

Written on: October 9, 2018 by SprayTM

Unilever has stopped plans to move its headquarters out of the United Kingdom after a significant group of shareholders objected. Unilever announced last March that it would use Rotterdam as its sole legal home as part of an effort to simplify its corporate structure and it needed 75% of voting UK shareholders to agree. That announcement — by one of the United Kingdom’s largest companies — was seen as a setback for the country as it prepares to leave the European Union, according to a CNN report. The move would have led stock market operators to designate Unilever a Dutch company and drop it from London’s FTSE 100 index. Unilever has operated for decades with dual headquarters in London and Rotterdam. Unilever has more than 400 brands in its portfolio and 161,000 employees, a CNN report said.