ExxonMobil Board Recommends Making Texas the Company’s Legal Home Instead of New Jersey
“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.”
ExxonMobil’s Board of Directors recommended redomiciling from New Jersey to Texas due to the latter’s friendlier business environment.
Redomiciling means transferring a corporation’s legal home from one jurisdiction to another without creating a new legal entity or interrupting any business operations.
The board cited Texas’s “legal and regulatory environment.” For example, the Texas Business Court makes it easier for companies “to resolve complex disputes efficiently.”
“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.”
It also makes sense to move everything to Texas since the state has housed ExxonMobil’s headquarters since 1989, employing 75% of the company’s U.S. workers.
ExxonMobil’s press release noted that most of the activities outside of business operations happens in Texas, such as academic recruiting, operational footprint, and U.S. focused philanthropic efforts.
Why stay in New Jersey except for tradition sake? The Board of Directors haven’t even held a meeting in New Jersey in 40 years.
“Freed from the stranglehold of over-regulation, Texas is where global brand leaders thrive and jobs for hardworking Texans grow,” said Texas Governor Abbott. “I thank ExxonMobil for their decision to redomicile in Texas and for their long-standing partnership with our state. With this decision, Texas will further dominate the corporate landscape and ensure our economic growth reaches new heights.”
The shareholders have to vote on the move.
New Jersey attempted to sue fossil fuel companies like ExxonMobil and Chevron over climate change.
The state claimed the companies tried to confuse people over connections between burning fossil fuels and climate change.
A judge dismissed the lawsuit in February.
“Only federal law can govern Plaintiffs’ interstate and international emissions claims because ‘the basic scheme of the Constitution so demands,’” wrote State Superior Judge Douglas Hurd. “Therefore, Plaintiffs’ complaint is hereby dismissed with prejudice for failure to state a claim.”
But man of man. Companies keep bolting blue states for red states.
On Tuesday, Mike wrote about Yamaha leaving California for Georgia.
Chevron, a staple in California, packed up and moved to Texas due to a better business environment.
Valero actually took a huge hit just to leave California.
Elon Musk moved SpaceX and Tesla to Texas. This guy on X listed all the companies that fled Commiefornia:
We can now add Valero to the growing list of major companies fleeing California, taking well over $1.3 trillion of revenue with them. Great job Newsom!
• AECOM
• Align Technology, Inc.
• Amazing Magnets, LLC
• Amgen Inc.
• Anduril
• Bed Bath & Beyond
• Blaze Pizza…— BlackApple (@BlackApple) December 14, 2025
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Comments
One wonders if the Dem party has detected a pattern here.
New Jersey is a state that thinks so little of its citizens that it won’t let them pump their own gasoline.
Now the state has so taken for granted a long time business that they’re packing up and heading south.
They’re not the first and they certainly won’t be the last. As Supreme Leader Mamdani‘s jihad against NYC takes root, the metro area will be nothing but a ghost town before long.
Ghost town?
Here’s a depiction of the non-imaginary ghosts that will find their way to Central Park,
https://metro.co.uk/wp-content/uploads/2017/03/491984728.jpg?quality=80&strip=all
speaking of noxious gas emissions
So disturbing
NY, NJ, CA: Move ’em out. Rawhide!
Slowly, then all at once. The economic future disaster of blue states.
then why just now as texas has had an “understanding” of gas /fossils for oh Id say a longgg time
California also has a history with oil
agree
and texas mayyy in fact be more friendly
but texas is turning blue(r) as the state absorbs more leftists who move to be with their job but resent it and CA is, as we know, a more scenic “fun” place to live and the hub (along with leftist on the ny coast)b of msm demonic beings
My (limited) understanding is that NJ and Delaware had laws that favored incorporating there — long ago.
I am concerned that the transplants will simply bring their lousy politics and attitudes along. Austin/Houston/DFW are already infected with libtards. Is TX committing suicide by aiding and abetting the spread of libtards?
The ball is at the top of the hill and will only pick up speed. More companies will move because they will have to move. Companies will discover that moving is a basic duty and that directors and managers will be sued if they don’t take such an obvious step to protect shareholder value. Leaving blue states will become a duty, not a choice.
I’m investing in U-Haul Corporation.
How many ‘blue voters’ will come along with the companies I wonder. Might be a double edge sword.
Probably depends on the demographics of which employees/family members make the move. I’d say a pretty good guess could be made based on that with a bit of self selection bias b/c the worst of the Cray Cray wokiesta leftists would be horrified at the thought of living in a deep Red State where tranny nonsense didn’t fly, abortions were limited/prohibited, firearms were ubiquitous and generally speaking laws were enforced, trials held, guilty verdicts rendered and lengthy prison terms handed down. Accountability is kryptonite to leftists.
Surprised this didn’t happen a hell of a long time ago.
As one of the near original oil industry transplant Texans from the late 60s and early 70s, and an Exxon shareholder; I am want to ask “WTF took you so long to make this decision?”
If the NRA had listened to people who were telling them to do exactly this move for decades, it would still be relevant today.
The obvious move to incorporate or reincorporate was Delaware due to it’s friendly business laws. The problem is lawyers and judges have started to intervene in business decisions like Musk’s compensation battle, to the point that they have made Delaware a pariah like other blue states.
I wonder if so many personal and corporations will leave California that it will make Newsome an unviable 2028 contender. Harris for that matter also because she lives there.
The exodus of business from progressive ghettos is of little concern to the socialist leadership, but they do want to keep their money, so there will be increasing attempts to extract more via departure taxes and via various schemes to force payment of substantial “damages” for various sins against The People. The efforts to turn Texas and Florida Blue will intensify, but won’t be helped by the extremely low liberal birth rate, so they will redouble efforts to enfranchise millions of illegals, with the expectation of permanent electoral fealty.