2 weeks ago
1
(The Center Square) – ExxonMobil on Tuesday said it is redomiciling its legal headquarters to Texas. It’s top reason: Texas’ new business court and regulatory framework.
ExxonMobil Corporation, based in Spring, Texas, announced its Board of Directors unanimously recommended its shareholders approve changing its legal domicile from New Jersey to Texas, where its leadership and core operations have been based since 1989. It also said its board hadn’t held a meeting in New Jersey for more than 40 years.
The board said it “considered Texas’ legal and regulatory environment, including its modernized business statutes and the Texas Business Court, which is designed to resolve complex disputes efficiently. When corporate decisions are challenged, Texas courts are required to apply clear, statute-based standards, which support sound decision-making.”
“Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, i...
English (US) ·