Unilever's decision to scrap its plans to move its headquarters from London is "an example of the power institutional investors can wield when they act in concert with one another", a leading analyst has said.
AJ Bell investment director Russ Mould made the assessment following the decision by the group to maintain its UK base, amidst speculation that as many as 12% of shareholders were opposed to the planned move to Rotterdam.
In a statement on its website this morning, Unilever said that it recognised 'that the proposal has not received support from a significant group of shareholders and therefore consider it appropriate to withdraw.
