00:00It's Benzinga, bringing Wall Street to Main Street.
00:02ExxonMobil announced plans Tuesday to move its legal headquarters from New Jersey to Texas
00:07after 144 years in the state, according to a company press release.
00:11The company's board unanimously recommended that shareholders approve the re-domicile to Texas,
00:16where about 30% of Exxon's global workforce is already based.
00:20If approved, Exxon would join a growing trend of companies relocating to Texas
00:25for a more business-friendly environment.
00:27CEO Darren Woods said Texas has created a policy and regulatory environment
00:32that supports the business community and aligns with the company's operations.
00:36Woods also told the Wall Street Journal the move aims to protect Exxon
00:40from shareholder abuse and frivolous litigation.
00:43Tesla moved its legal incorporation to Texas in June 2024,
00:47and Coinbase announced plans to reign corporate there in November 2025.
00:51For all things money, visit Benzinga.com.
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