After 144 Years in New Jersey, Exxon Asks Shareholders to Back Texas Move to Cut Litigation Risks
10th March 2026
If approved at Exxon’s May 27 shareholder meeting, the company would be governed by Texas law on issues such as bylaws, director duties, and shareholder rights. Exxon noted that most of its senior leadership and about a third of its global workforce are already based in Texas.
Exxon’s evolution from its Standard Oil days has left it incorporated in New Jersey since the 1880s, and its attempt to move is yet another example of corporate America abandoning states run by left-wing politicians pushing a failed green agenda and other destructive progressive policies in favor of red states governed by common sense.