Niall FitzGerald, co-chairman of Unilever, has warned that investment by his company may be in jeopardy if Britain fails to adopt the single European currency in the next parliament.
“If there was a decision taken by the electorate that Britain should not join the euro – then we have to go back on assumptions we made about investment,” said FitzGerald in an interview with the Independent on Sunday.
He said a note vote would force him to ask: “Does [Britain] continue to be an attractive place in which to base a business which is serving 480m customers, of which 430m are in a different zone?”
Unilever has a number of manufacturing plants in the UK for brands like Walls Ice Cream and Hellmann’s mayonnaise, employing over 17,500 people. A pullout or scaling back of operations would have a drastic effect on the food industry in the UK.
FitzGerald admitted that Unilever would financially support a cross-party campaign for a ‘yes’ vote.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData