Unilever single-minded about challenges

29 November, 2020 12:00 AM printer

LONDON: Unilever’s Dutch shares will trade in Amsterdam for the last time on Friday, before a unification of the group’s dual-headed structure that aims to put the consumer goods maker on a better footing to cope with an uncertain future.

The merger over the weekend of Unilever’s Dutch and British corporate arms into one legal entity based in London will end 90 years as a hybrid company. It comes as the macroeconomic picture is clouded by a pandemic-fuelled recession and looming Brexit, report agencies.

The move is not expected to impact day-to-day operations for the maker of Hellmann’s mayonnaise, Dove soap and Ben & Jerry’s ice cream, but will bring greater flexibility in acquiring and exiting businesses, reduced complexity and strengthened corporate governance, Unilever has said. “The boards consider that unification is in the best interests of Unilever, its shareholders and other stakeholders taken as a whole,” the company said last month.