Unilever PLC, a British-Dutch transnational consumer goods company, provided a proxy for an extraordinary general meeting. The proxy contained two proposals relating to a change in corporate structure. Shareholder materials relevant to the meeting were found on the company website.
Magni voted for both proposals as the changes would not hurt and will probably improve Unilever’s governance. Most of the changes relate to eliminating the dual British-Dutch structure. As part of the changes, Unilever committed to continue existing good governance practices. The change eliminates special voting powers for certain shares and hence probably improves governance. Though it is not clear what, if any, cost savings will come from the change, improved shareholder relationships, greater transparency, and simplified decision making are good for Unilever, its shareholders, and probably all stakeholders.