Shares in consumer giant Unilever opened slightly higher today after it scrapped plans to move its headquarters from the UK.
Announcing the decision, Unilever’s chairman Marijn Dekkers, said they will now consider the “next steps”.
“Unilever has built a long track record of consistent and competitive performance. 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.
“The board will now consider its next steps and will continue to engage with our shareholders. We will proceed with the plan to cancel the NV preference shares, further strengthening our corporate governance.”
Mayor of London Sadiq Khan has welcomed Unilever’s decision and said that despite Brexit, London will always be one of the best places to base a business.
“It’s great news that Unilever has chosen to keep its HQ in London and abandoned plans to move it to Rotterdam.
Despite Theresa May’s appalling mishandling of the Brexit negotiations, the capital will always be one of the best cities in the world in which to do business.”