{"id":751,"date":"2026-05-28T22:37:10","date_gmt":"2026-05-28T22:37:10","guid":{"rendered":"https:\/\/hometransferguide.com\/?p=751"},"modified":"2026-05-28T22:37:10","modified_gmt":"2026-05-28T22:37:10","slug":"major-oil-companys-shareholders-ditch-blue-states-woke-cartel-for-texas","status":"publish","type":"post","link":"https:\/\/hometransferguide.com\/?p=751","title":{"rendered":"Major Oil Company\u2019s Shareholders Ditch Blue State\u2019s \u2018Woke Cartel\u2019 For Texas"},"content":{"rendered":"
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ExxonMobil shareholders voted Wednesday to reincorporate in Texas and leave New Jersey rejecting two global advisory firms\u2019 recommendations.<\/p>\n

Read more Their Small Nation Cut A Deal With China, And Now The Cost Is Becoming All Too Real<\/a><\/p>\n

of shareholder votes were in favor of the company\u2019s move during the annual shareholder meeting Wednesday, according\u00a0to the summary of ExxonMobil\u2019s preliminary 2026 proxy voting results.<\/p>\n

ExxonMobil\u2019s headquarters is in Spring, Texas, but its legal domicile is in New Jersey and its connections to the state date back to 1882. In March, the oil and gas company\u2019s Board of Directors unanimously recommended shareholders vote to reincorporate the company in Texas, according to a March 10 press release.<\/p>\n

A company\u2019s legal domicile decides which laws govern the company. ExxonMobil Board of Directors considered the benefits of Texas\u2019 legal and regulatory environment, according to the press release. About 75 percent of ExxonMobil\u2019s U.S. employees work in Texas.<\/p>\n

\u201cOver 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,\u201d said Darren Woods, ExxonMobil chairman and chief executive officer, in the release. \u201cAligning our legal home with our operating home, in a state that understands our business and has a stake in the company\u2019s success, is important.\u201d<\/p>\n

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Houston was founded in 1836. It is the fourth largest city in the United States and the largest city in the state of Texas.<\/p>\n<\/div>\n

The State Financial Officers Foundation (SFOF) hailed the vote as a \u201cShareholder victory over politics\u201d in a Wednesday X post.<\/p>\n

\u201cExxonMobil owners just voted to reincorporate in Texas, backing what\u2019s truly good for long-term shareholder value and rejecting New Jersey red tape + proxy advisors\u2019 political agendas,\u201d the post added. \u201cNo more activist lawsuits or virtue-signaling over profits. This is real fiduciary duty in action!\u201d<\/p>\n

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Global Proxy advisors Institutional Shareholder Services (ISS) and Glass Lewis recommended against the move, warning that the move could hurt shareholders rights, according to Reuters.<\/p>\n

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\u201cIn choosing to relocate to the Lone Star State, the leadership of ExxonMobil commendably met their fiduciary responsibility to shareholders, putting them first over the political agendas of proxy giants ISS and Glass Lewis. What matters most is maximizing taxpayers\u2019 returns for investment and pension funds, which means combatting any strategies wrongly focused on ESG [environmental, social and governance] and woke activism.\u201d SFOF CEO OJ Oleka told The Daily Caller News Foundation in a statement. (RELATED: \u2018A Culture That Defers To Fraud\u2019: Witnesses Reveal How Hardworking Families Pay Higher Taxes)<\/strong><\/p>\n

\u201cSFOF has been fighting these proxy advisors\u2019 benchmark policies for years. In a letter from our state financial officers, we called out ISS for its misleading voting records and failure to prioritize benchmark policy that protects and maximizes shareholder value,\u201d Oleka continued. \u201cWe will not back down to proxy advisors and their political agendas as we keep fighting to protect taxpayer investment dollars.\u201d<\/p>\n

Similarly, executive director of Consumer\u2019s Research Will Hild also praised the decision in a Wednesday post to X.<\/p>\n

\u201cEvery time the foreign-owned, woke activist proxy advisors fail it brings me joy. Congrats to Exxon shareholder for beating the woke cartel this time,\u201d Hild wrote.<\/p>\n

\u201cConsumers\u2019 Research has long warned that the proxy advisor duopoly represents one of the most dangerous and least accountable concentrations of corporate influence impacting consumers. This victory by Exxon puts shareholders and consumers first and pushes back against the proxy advisors and their obvious conflicts of interest. Companies should focus on long term economic growth, maximum returns for shareholders, and a strong market for consumers,\u201d Hild told the DCNF in a statement.<\/p>\n

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter\u2019s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact\u00a0licensing@dailycallernewsfoundation.org.<\/p>\n

Read more Democratic Senate Candidate Haley Stevens Joins The Mid-Interview Meltdown Club<\/a><\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Oil and gas company ExxonMobil shareholders voted yesterday to reincorporate in Texas and leave New Jersey rejecting two global advisory firms' recommendations.<\/p>\n","protected":false},"author":1,"featured_media":750,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1165,755,110],"class_list":["post-751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting","tag-exxonmobil","tag-new-jersey","tag-texas"],"yoast_head":"\nMajor Oil Company\u2019s Shareholders Ditch Blue State\u2019s \u2018Woke Cartel\u2019 For Texas - Home Transfer Guide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hometransferguide.com\/?p=751\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Major Oil Company\u2019s Shareholders Ditch Blue State\u2019s \u2018Woke Cartel\u2019 For Texas - 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