, Columnists
Unilever's Problem With London Goes Way Beyond Brexit
Opting for a Dutch domicile would challenge the U.K.'s ethos of shareholder primacy.
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If Unilever NV picks Rotterdam over London as its new headquarters, Britain will need to ask itself why. One reason might be that the U.K.'s corporate culture puts shareholders first -- and this money-grabbing ethos is behind the times.
Theresa May's government is braced for the Anglo-Dutch consumer group to leave London, the Financial Times reported on Wednesday. Unilever started reviewing its dual-headed structure after Kraft Heinz Company's failed $143 billion takeover approach a year ago. Switching to a single jurisdiction was part of its strategic rethink designed to curry favor with shareholders. The current arrangement is antiquated and would have hindered major corporate steps such as a demerger.