A major corporate shift could soon bring ExxonMobil’s legal headquarters to Texas, aligning the company’s official domicile with where its leadership and operations have been based for decades.
ExxonMobil announced that its Board of Directors has unanimously recommended that shareholders approve moving the company’s legal domicile from New Jersey to Texas.
The proposal would align ExxonMobil’s legal home with the location of its leadership and core operations, which have been based in Texas since 1989. The company is currently headquartered in Spring, Texas.
"Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,” said Darren Woods, ExxonMobil chairman and chief executive officer. "Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important.”
More on this story at KHOU.
