Texas Emerges as ExxonMobil’s New Legal Home, Moving From New Jersey

ExxonMobil announced it plans to move its legal headquarters from New Jersey to Texas, with the board recommending shareholders vote to redomicile at the May 27 annual meeting. The move would align the company’s legal home with its operating base in the Houston area, while not changing operations or employee locations. Texas’ business-friendly reforms, including the Texas Business Court, are cited as factors, and the move places Exxon among other major firms that have redomiciled in Texas in recent years.