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British-Dutch multinational consumer goods company Unilever yesterday announced plans to unify its legal structure under a single parent company head-quartered in London.
According to a statement by Unilever, the goal of the structure change is to create a simpler, more flexible company, better positioned for future success.
“After a comprehensive review over the last 18 months, the board continues to believe that moving from the current dual-headed legal structure to a single parent company will bring significant benefits,” Unilever stated.
In March 2018, Unilever, producer of consumer goods brands, including Lipton tea, Dove soap, Axe deodorant and Magnum and Ben and Jerry’s ice cream, announced that it intended to change from two legal entities into one single legal entity. However, at that time the plan was to become incorporated and tax-resident in the Netherlands, with Rotterdam as single headquarters.
This plan of 2018 meant Unilever would leave London as headquarters. — Xinhua.
Online Reporter