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.
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