- Proposal: abandon New Jersey incorporation and re-register in Texas
- Source: company proxy filing referenced in the article
- Requires shareholder vote/approval to take effect
- Exxon: move could bolster defenses against activist shareholders and climate-related litigation
- Texas law changes cited as offering enhanced protections for businesses
- Company notes physical HQ already in Spring, Texas
- Other high-profile firms have redomiciled to Texas
- Exxon previously introduced mechanisms to increase retail-voter alignment with board recommendations
- The filing is positioned amid prior climate litigation history involving Exxon
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