Removes “Royal Dutch” from shell name and moves to Great Britain.
The oil company wants to keep its investors in the group and the aspiring partner wants to mitigate the conflict with the third point. On Monday, the group announced that a simple stock system would make it easier for Shell to repurchase its own shares. Stakeholders are set to vote on the issue on December 10.
But the name of the group is also to be changed: “Royal Dutch” is no longer applicable, and in the future the oil will only operate under the name of many “shell”. Shell wants to move its tax headquarters from the Netherlands to the UK.
The Dutch government spoke of an “unpleasant surprise” and welcomed the government’s plans in London. Shell shares rose on the London Stock Exchange that morning.
Shell, like other major oil companies, is under increasing pressure from governments and investors to decorbonize its operations. The company has already rejected its fossil fuel business, increasing its share of renewable energy. Shell said it wants to become climate neutral by 2050, but is still under pressure to do so faster. The investor wants to move the Third Point Group to a split, and its management has already rejected such claims.
“Friend of animals everywhere. Web guru. Organizer. Food geek. Amateur tv fanatic. Coffee trailblazer. Alcohol junkie.”