The move is part of a global media review by the FMCG giant.
In a statement, a spokesman for Initiative said: "Since 2004, Unilever has been seeking a more centralised approach to its media and marketing solutions, while aligning its local market activity in regions such as Australia, South-East Asia and China."
The decision has led to Initiative instigating a company restructure and making a number of as-yet-undisclosed changes to its management team.
MindShare also handles Unilever in Europe, Malaysia and Thailand.
