Shell to lose royal title as oil giant moves corporate HQ to London

ROYAL DUTCH Shell will lose its regal title and become plain old Shell under proposals to tilt the FTSE 100 oil giant’s centre of gravity from the Netherlands to London.

- Simon Freeman

CEO Ben van Beurden (right), CFO Jessica Uhl and seven other senior executives will relocate to the capital full-time in what the £130 billion super-major called a “simplification” of its structure.

Shell’s confusing dual-class shares will be merged into a single line to free up more liquidity as it presses ahead with a $7 billion buyback.

Its corporate HQ and tax residence will shift to the UK where all board and highlevel meetings will be held.

Analysts suggest the move will lead to a one-off demand for exit tax of up to £400 million from Dutch authorities.

The firm will still be listed in Amsterdam, London and New York but will no longer meet the criteria to use the “Royal Dutch” designation.