Consumer goods giant Unilever has abandoned proposals to move its head offices from London to Rotterdam after facing opposition from its investors.
Unilever had made the recommendation to ditch its dual governance structure and relocate its headquarters to its shareholders in March.
But the company said after an extensive consultation period the plan “has not received support from a significant group of shareholders”, and therefore considered it “appropriate to withdraw”.
Marijn Dekkers, chairman of Unilever, said: “The board continues to believe that simplifying our dual-headed structure would, over time, provide opportunities to further accelerate value creation and serve the best long-term interests of Unilever.”
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