Shell ditches the Dutch in major overhaul

Royal Dutch Shell will move its head office from the Netherlands to the UK, the company announced on Monday (November 15).

And it's dropping the 'Royal Dutch' bit too.

The energy giant also said it would end its complex dual share structure.

Shell has been in a long-running dispute with Dutch authorities over the country’s 15% dividend withholding tax.

It had wanted to avoid paying the tax with its two share classes - something the new structure would resolve.

The move will be put to a shareholder vote at a general meeting on December 10th.

Earlier this year, a Netherlands court ordered Shell to raise its planned cuts to greenhouse gas emissions.

Last month, the country’s largest state pension fund said it would drop Shell and all fossil fuels from its portfolio.

Now the company also aims to drop ‘Royal Dutch’ from its name and become Shell Plc.

The Netherlands government said it was ‘unpleasantly surprised’ by Shell’s plans to move to London.

However, shares in the firm rose more than 2% in London early Monday after the news.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting