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Royal Dutch Shell Plc announced a major overhaul of its legal and tax structure that will see the company walk away from the Netherlands amid deteriorating relations with what’s been its home country for a century.
The changes come as Shell is battling activist investor Dan Loeb, who’s demanding the company split itself into two to attract shareholders leaving the energy sector because of concerns over climate change.
Shell said Monday that it planned to eliminate its current dual share structure, drop “Royal Dutch” from its name, relocate its tax residence to the UK and move its top executives from The Hague
