Jul 19, 2018

Unilever sets October date for unification vote

Unilever investors are to vote in October on the Anglo-Dutch group's proposal to abandon its dual-headed legal structure, the consumer goods group said on Thursday as it highlighted its intention to improve corporate governance. Unilever sought to address investor fears that the Netherlands' more protectionist regime may have helped motivate the structural change. "We're manifestly improving governance of Unilever - it will be one share, one vote," said Graeme Pitkethly, finance director. Unilever also unveiled its half-year results on Thursday, showing revenues of €13.7bn, up 2.7 per cent on an underlying basis from the same period a year earlier. Unilever had already said its second quarter would be hit by a truckers' strike in Brazil, one of its biggest markets, which wiped about 0.6 percentage points off underlying sales growth for the first half of the year and 1.2 points off the second quarter.

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