The Times: Unilever to keep dual listings: “Unilever, the consumer goods giant, will not follow the example set by Royal Dutch Shell, its Anglo-Dutch cousin, after it said that it would keep its dual listings.”: “Mr Burgmans chaired the review team, which included Jeroen van der Veer, the Shell chief executive, who is on Unilever’s board.”: Tuesday 20 December 2005

Unilever, the consumer goods giant, will not follow the example set by Royal Dutch Shell, its Anglo-Dutch cousin, after it said that it would keep its dual listings.

The decision, which followed an internal review, surprised some analysts and sent Unilever’s shares down 10p to 572½p. Its Amsterdam shares eased 1.2 per cent to €58.05.

Antony Burgmans, chairman, said that changing the structure “would not today offer compelling benefits” and pointed to Unilever’s already-unified board structure. Mr Burgmans chaired the review team, which included Jeroen van der Veer, the Shell chief executive, who is on Unilever’s board.

Unilever, which makes Dove soaps and Flora margarine, has proposed several changes that it claims will improve corporate governance practices and also enhance balance sheet and capital structure flexibility.

Among them, which will be put to a shareholder vote in May, are a plan to equalise the value of its British and Dutch shares through a split of the Amsterdam stock and a consolidation of the London scrip.

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