Unilever has selected Rotterdam over London as its new corporate headquarters.
This change is part of the company's plan to become a single entity based in the Netherlands.
According to Unilever, the headquarters of the Beauty & Personal Care Division and the Home Care Division will be located in London. It also stated the employment of 7,300 people in the U.K. and 3,100 people in the Netherlands will be unaffected by the changes. These changes reportedly secure nearly £1 billion per year of continued spend in the U.K., including a significant commitment to R&D.
Marijn Dekkers, chairman of Unilever, stated, "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 U.K. 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.”