Nothing new here, long before Brexit there was an exit of UK companies to the continent, HP Foods was transferred from Birmingham, England to the Netherlands in 2007 and Rowntrees was transferred from York to Hamburg in Germany and also Spain and the Czech Republic in 2006. Just an example that you cannot blame Brexit for everything.
. . . and to think it was all because of an irrational fear of foreigners. London surely wishes it could extract itself and stay within the EU as an independent city/state.
King James I wanted to merge England and Scotland, but neither side wanted to be ruled by a filthy foreign parliament. It took 100 years for the union to happen. Brexiteers have said that they don’t want to be ruled by a filthy foreign parliament and so the split with the EU. When I bring up the possibility that Scotland might break with England to stay in the EU my English friends react quite violently! I wonder what the situation will be in another 100 years? Highly amusing!
2
For those in this country who ascribe to nationalism and trade barriers, please watch the U.K. closely. Brexit is a real-world example of a disgruntled working class demanding wage hikes and jobs are better achieved by isolation and eliminating migrants. This action by Unilever is only the beginning for the U.K.
Donald Trump promoted a version of this in the U.S. during his campaign and is now actively seeking trade wars and the destruction of trade agreements. We too will see economic damage, demanded by the disgruntled Americans who support Trump, if he is allowed to continue down the path he has chosen.
It is time for sanity to re-enter our actions as they apply to our alliances, both defense and trading. It is time for the U.K. to decide just how much damage they want to do to their long-term economic future as the attempt to leave the E.U.
1
Rotterdam picture is of the local affiliate, not corporate office in Rotterdam.
Let Putin have Little England, I say.
The Britons did it to themselves.
Scotland, Northern Ireland and the Irish Republic should form their own country.
1
Once upon a time, Venice was the center of European commerce, in large part due to a government that made Venice stable, cosmopolitan, and open for business in a way few other places were. London became dominant because it filled a similar role: it was open to global business, appealing to English-speaking Americans (the drivers of international business in the post-war period), a trustworthy place for your assets with fixed rules, fair courts, low corruption, and predictable politics. Those pillars of success are being fatally undermined. Perhaps the Netherlands is the next London.
2
Venice was also closer to suppliers and markets in Asia, with an overland route. As soon as ships could reach these markets via a route around Africa, Venice became a backwater. Then the Spanish, Portuguese, Dutch and English took Vinice's place in trade. And world power. But indeed, this is a warning. But probably too late.
2
Businesses don't like uncertainty. Brexit was short-sighted and the negotiations are likely to drag on for a few years. More businesses will likely follow Unilever's example. Having your corporate headquarters in the EU just makes more sense in the long run. This is a good example of why prejudice shouldn't be used to determine government policies.
3
The referendum will go down as the biggest blunder of modern British history. Where is Cameron hiding who is responsible for it? But it’s not only a loss for Britain but equally for the EU. With the US and Russia both going over the guard rails in there own way, Europe will need more than ever to hold up the liberal world order. Britain should have hold a second vote requiring a 2/3 majority. That’s the proper way.
7
Unilever is not leaving Britain, it's moving the headquarters. Research etc will continue to be done in the UK and no job losses.
3
“It brings into sharp focus the need for the government to secure a Brexit deal that secures London as Europe’s leading business center,” Mr. Agrawal added.
Mr. Agrawal is dreaming. And the dream will turn into a nightmare as Brexit takes effect. Brexit was and is a mistake.
7
Now I'm certain Ricky Gervais will move to Chicago (he probably says "Chi Town") just so he can get that Dove for men shampoo / body wash stuff.
Kraft-Heinz awaits to purchase and welcome home. Whole lotta cash changin' hands...
1
“Unilever officials said on Thursday that Brexit did not factor into the company’s decision.”
Utter nonsense. High time we ditched that clumsy ill-informed decision carried through by misty-eyed fools wailing for the ‘good old days’ or otherwise conned into it.
But no, such is the lust for the great Brexity obsession held by fanatics in the Tory Party and their rich old school chums in finance, that we will be pulled down the plughole so that said fanatics can gorge on their low-tax, low-regs business utopia that will swell their coffers. Meanwhile the rest of us get ever more left behind, save for the trickle-down of a few stark crusts. Idiocy.
8
We are doing the exact same thing to ourselves here in the US. Tax breaks for the wealthy and removing all the regs that ensure our health and safety whilegetting rid of affordable health care. All this so that Trump's 1% buddies get everything, while the rest of us can just take a long walk off a short pier. At some point the business utopia will die once the middle class, who provides most of the buying power, is completely hollowed out.
2
Hey Brits. How's Brexit working for you?
2
Hey Americans. How's Trump working for you?
2
Protectionism will not work in Britain anymore that it will work in the U.S.
Corporations are going to move to the lowest common denominator or tax structure that will allow them to invert their gains across borders.
It is that simple.
9
Britain may eventually have to devalue the Pound to stay competitive. If Britain leaves the EU and then wants to come back I doubt the Pound will survive and Britain will be on the Euro. Unilever is making the only logical choice from a business perspective.
14
This is probably only the beginning. I know of a consulting organization which is planning to move its London office to Dublin because of Brexit.
15
What a pity that Unilever is leaving Britain. It is so quintessentially British. I had family members who worked for the company years ago in Boston and they remember when Dove Soap was invented. It was and still remains an excellent product and best seller. Please say it is not so that they are exiting England. This is so unfortunate.
4
It is difficult to believe that Brexit had no impact on Unilever's decision. With all of the uncertainty around Brexit, it was logical to move where they already had an established second headquarters in Rotterdam.
13
Britain left Europe. And so Europe will leave Britain. And the British people will pay the price.
28
The UK, from a business perspective, is now what Iceland and Greenland have been since we got jet airplanes (1960): too much out-of-the-way.
18
Who could have ever predicted that a short-sighted, nationalistic exit from the European Union would be costly to England in the long run?
55
It is amazing that the British didn't understand that "Brexit" meant the movement of multinational; businesses out of Great Britain. talk about "cutting off your nose the spite your face."
39
Brexit... the gift that keeps on taking.
24
Make Rotterdam great again.
17
“It brings into sharp focus the need for the government to secure a Brexit deal that secures London as Europe’s leading business center,” Mr. Agrawal added.
I just want to know what is Mr. Agrawal smoking. With EU, you are either in or out. The Brits choose out.
34
It's only the beginning of the massive departure of global companies' headquarters from the UK. Small-minded Brits who voted to leave the European Union were too uninformed to understand how the gains they had achieved from membership in the world body will be erased and the UK will be diminished as a country and as a global power. Brexit is not only a phenomenal loss to the people of the UK, it is to every Ally of the once-great nation that stood up to Hitler.
60
The article entirely overlooks an essential point. Dutch law is insular and provides protection against foreign takeovers. UK law is outward looking and foreign acquisitions may be blocked only if they raise genuine concerns about national security. With Dutch domicile, the management of Unilever need not worry too much about future US, or other non-native, "raiders".
28
Dutch or EU law. Aren't these issues governed by EU law in the single market?
6
On the one hand, I'm still stunned by Brexit. On the other hand, it fits my experience travelling to the UK occasionally since the 1970s. Arriving with a US passport, I was always put through much more scrutiny than anywhere on the Continent. Passport control officers have been uniformly cold, rude, and unwelcoming. Once in, I sometimes had my US English accent ridiculed and even laughed at, in business meetings with adults. The UK can indeed be a strange place.
30
Karl,
My experience in traveling to the UK many times over the past 10 -15 years has been totally the opposite of yours. Passport control no better or worse than anywhere else (including the US), no comments about my accent, and certainly the people were more polite than in the US.
Nevertheless, the Brexit vote is very likely to bring a significant negative change to the county. One of the finance capitals of the world, it will lose this position, and the hundreds of thousands of related, high-paying jobs, as the major banks depart. I have met with senior bankers and many if not all are preparing long-term plans that include an exodus from London. My former company has already moved its European headquarters to Switzerland. Very sad.
26
I have also found UK immigration to be far more unpleasant than anywhere else on the continent. I was visiting several times a year for an extended period, and I was always grilled and given a cold stare - they seem to believe everyone is desperate to sneak in, including Americans. Even the stamps they put in my passport read 'no recourse to public funds,' as if I was going to ask for welfare during a long weekend.
14
You have had better luck. My reception might also have to do with my German name and that on my US passport the place of birth is Berlin. The British keep the memory of the Second World War more alive than Americans.
1
Unilever will not be the only or last corporation to move its headquarters from the country formerly known as Great Britain. Others will follow. Wherever headquarters may be domiciled incorporation in the island of Jersey has even more advantages for a European based international corporation as the Chief Financial Officers will whisper to the CEO's and Boards of Directors' ears. After all, it's all for the benefit of the shareholders.
19
The counter you write of is "The United Kingdom of Great Britain and Northern Ireland" not Great Britain! Helps to accurate when commenting! My little school lesson for today.
Umiliviniq