Unilever streamlines business into three divisions, chooses Rotterdam for headquarters

By Johan De Mulder

Unilever is to streamline its business by reverting to a single legal entity with three core divisions.

Sold as the next stage of its transformation, the multinational will have its corporate headquarters in Rotterdam, the Netherlands while operating Beauty & Personal Care, Home Care and Foods & Refreshment divisions.

The changes, which were finalised in a board meeting on Wednesday before being announced on Thursday, also further strengthen Unilever’s corporate governance, creating a ‘one share, one vote’ principle for all shareholders. 

See also:


Unilever's Beauty & Personal Care and the Home Care divisions will each be based in London but the United Kingdom's credentials as a home for its corporate headquarters were ultimately rejected by the company. Its statement insists this was down to over half of its share capital being based in the Netherlands, however, and not because of reported concerns over Brexit.

"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," said Chairman Marijn Dekkers. "Our decision to headquarter the divisions in the UK and the Netherlands underscores our long-term commitment to both countries."

Unilever, which employs over 10,000 people in the Netherlands and the UK, has focused its vision around creating a 'more consumer-facing organisation that enables us to roll out global innovations faster and be more agile in responding to local trends'.

Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology