Royal Dutch Shell plans to relinquish its two shares and relocate its tax office from the Netherlands to the UK, which the oil company says will strengthen competition.
The reorganization of the Anglo-Dutch group comes less than a month after a fundraiser at Wall Street Third Point announced a move to value the company and forced a change.
Shell said Monday that the changes “will increase the speed and flexibility of major events and events”.
It added: “This simplification was designed to boost Shell’s competitiveness and speed up the distribution of shareholders and bring its path to zero-value business.”
Under the plans, Shell’s chief executive officer and chief financial officer will be in the UK, where the company will also hold its committee meetings with the executive committee.
The company will still be listed in Amsterdam, London and New York, but will leave the word “Royal Dutch” in its name.
The Third Amendment, led by Dan Loeb, called for the company to be dissolved, calling it “inconsistent, contradictory”.
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