6.7 C
London
Tuesday, December 7, 2021

Shell plan to quit Netherlands hailed as ‘vote of confidence’ in Britain

Royal Dutch Shell has unveiled plans to move its headquarters from the Netherlands to the UK.

The Anglo-Dutch energy giant said the move to abandon its current dual structure would make it nimbler as it moves away from oil and gas and towards greener sources of power. 

The move comes as Shell is facing pressure from Third Point, an activist investor run by Wall Street billionaire Dan Loeb.

Since 2005, the company has been incorporated in the UK but registered in the Netherlands for tax purposes and headquartered there. 

But under the changes now proposed to shareholders, the firm’s structure will be entirely based in Britain and all meetings of executives and board members will happen there as well. 

The formal name of the FTSE 100 business will also be shortened from Royal Dutch Shell to simply Shell. Shell would retain its listings in London, Amsterdam and New York, according to a circular issued on Monday morning. 

News
Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here

+ 76 = 86