By Mike Corder
THE HAGUE, Netherlands (AP) --Unilever, the Anglo-Dutch consumer goods multinational whose vast stable of brands includes Dove, Knorr and Ben & Jerry's, is basing its headquarters in the Netherlands, ending its longstanding structure of having head offices in both Rotterdam and London, the company announced Thursday.
While there had been speculation that Unilever could opt to base itself on mainland Europe because of Britain's departure from the European Union, the company did not mention Brexit in its announcement. It said the move is part of a raft of structural changes that will turn the company into "a simpler, more agile and more focused business."
Unilever launched a far-reaching review of its business after rival Kraft Heinz launched an ultimately unsuccessful $143 billion hostile takeover bid early last year.
The company said that its employment of 7,300 people in Britain and 3,100 people in the Netherlands would be unaffected by the changes. Worldwide, Unilever employs nearly 170,000 people. The company had sales in 2017 of more than 50 billion euros ($62 billion).
Unilever was formed in 1930 by a business merger of the Dutch Margarine Unie and Britain's Lever Brothers. That led to the company's dual identity — with Unilever PLC in Britain and Unilever NV in the Netherlands technically separate companies but operating together thanks to a raft of agreements that allow them to share everything from brands and technology to identical boards of directors.
Unilever said it will now create three divisions — Beauty and Personal Care, Home Care and Foods and Refreshment, with the first two divisions based in London The company said that decision "secures nearly 1 billion pounds (1.1 billion euros) per year of continued spend in the UK."
The chairman of Unilever's board, Marijn Dekkers, said the board, "believes the move to three divisions and the simplification of our corporate structure will create a simpler, more agile and more focused company with increased strategic flexibility for value-creating portfolio change."
Dekkers added that the changes "further strengthen Unilever's corporate governance, creating for the first time in our history a 'one share, one vote' principle for all our shareholders."
Avid completes acquisition of Wolftech
Avid®, known for software solutions for professional media production, has completed the acquisition of Wolftech Broadcast Solutions, a leader in cloud-based multiplatform news planning, production and publishing solutions.
The acquisition enables Avid to combine its digital-first, end-to-end media solution with Wolftech’s expertise in story-centric workflow management. News organizations will be able to increase efficiency and accelerate story delivery through enhanced remote collaboration and multiplatform amplification.
Avid CEO Wellford Dillard stated, “Wolftech is unquestionably on the leading edge of where the industry is going, and this acquisition demonstrates Avid’s commitment to transform news, sports, and live production workflows. We are delighted to welcome Wolftech into the Avid family.”
Wolftech CEO Arne Berven added, “We were focused on finding a partner that could accelerate the adoption of our platform globally. We explored a number of possibilities, but when we talked to Avid, we knew it was the right match.”
The closing of the acquisition follows Avid’s announcement on October 7 that the company had entered into a definitive agreement to acquire Wolftech.
With this acquisition, Avid deepens the integration between the two toolsets while continuing to embrace an open approach in partnering with a wide range of media production tools and newsroom systems. Existing Wolftech customers will benefit from Avid’s global scale for customer support and professional services.
Ian Axton, head of production operations for ITV News, said, “As a customer of both Avid and Wolftech we’re excited about the benefits this acquisition will bring to our users and our business. Wolftech has transformed... Read More