Cheers Brexit
Britain’s third largest company is restructuring and will now be based in Rotterdam.
Unilever is shifting to the Netherlands, reregistering as “Unilever NV,” rather than PLC, and will be a tax resident of the country. The third biggest FTSE 100 company will face an expensive legal wrestle to stay on the index.
The maker of Marmite, Ben & Jerry’s ice cream and PG Tips said its employment of 7,300 people in the UK and 3,100 people in the Netherlands will be unaffected by the changes.
On Thursday, the consumer goods giant said that it will operate three divisions – beauty and personal care division and its home care division based in London, while its foods and refreshment division will be based in Rotterdam.
The Unilever chief financial officer, Graeme Pitkethly, insisted Brexit “was absolutely not a factor” in the decision.
The government’s response to today’s announcement from @Unilever on their long-term commitment to the UK. pic.twitter.com/6worCtfwYr
— Department for Science, Innovation and Technology (@SciTechgovuk) March 15, 2018
Talking on LBC this morning, Foreign Secretary Boris Johnson said: “You’re seeing huge investments into the UK, that have happened since we voted Leave.
“This is an accounting decision that doesn’t affect Unilever’s big growth sectors in this country.
