Unilever selects Rotterdam for global headquarters
Unilever has announced it plans to locate its global headquarters in Rotterdam, the Netherlands. The decision is part of the company’s plan to simplify its corporate structure from two to one single legal entity, incorporated in the Netherlands.
Unilever has announced it plans to locate its global headquarters in Rotterdam, the Netherlands. The decision is part of the company’s plan to simplify its corporate structure from two to one single legal entity, incorporated in the Netherlands. Unilever currently employs 7,300 people in the United Kingdom and 3,100 in the Netherlands.
In addition, the company’s structure is evolving to be based on three divisions—Beauty & Personal Care, Home Care, and Foods & Refreshment. The divisions will be more empowered, with greater responsibility for making long-term strategic choices and managing financial performance. All three divisions will continue to benefit from Unilever’s global scale and route to market.
The headquarters of the Beauty & Personal Care Division and the Home Care Division will be in London. The headquarters of the Foods & Refreshment Division will continue to be based in Rotterdam.
Secondly, the company intends to simplify from two legal entities, N.V. and PLC, into a single legal entity incorporated in the Netherlands. This reflects the fact that the shares in N.V. account for approximately 55% of the group’s combined ordinary share capital, and trade with greater liquidity than PLC shares. The proposed simplification will provide greater flexibility for strategic portfolio change and help drive long-term performance.
“Unilever’s board is fully committed to delivering long-term performance and sustainable value for shareholders,” said Marijn Dekkers, chairman of Unilever. “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 United Kingdom and the Netherlands underscores our long-term commitment to both countries.”
Unilever also recently chose Holland as the location to build its new Global Foods Innovation Center. Situated at the Wageningen University & Research (WUR) in Holland’s Food Valley region, Unilever chose the location because it gives access to the Wageningen Foods ecosystem, including international talent, knowledge centers, NGOs, and start-ups, thereby benefiting from knowledge-sharing in developing sustainable and nutritious food innovations for the food industry. The R&D center is expected to be completed mid-2019.