Unilever to review dual structure
Transnational consumer goods group could cause a big UK-Netherlands storm as it considers having a single head office
Amsterdam — Unilever is considering doing away with its long-standing structure of maintaining separate corporations in the UK and the Netherlands, wading into a political storm with governments in both countries likely to put up a fight to keep the headquarters. The owner of Dove soap and Hellmann’s mayonnaise planned to divest its spreads business as part of a broader overhaul, Unilever said on Thursday. While looking at options for the operation, it had become apparent that the dual-headed legal structure made such changes more complex. The company has periodically reviewed the set-up over the years, but always kept it in place. "It has become clear to us that given the dynamics around more significant major change, that now is a good time to review it again," chief financial officer Graeme Pitkethly said. Losing Unilever would be a blow to UK Prime Minister Theresa May, coming soon after she started divorce proceedings from the EU. Multinational firms based in the UK have benefi...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.