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Open original source ↗Once Exxon and Dell do it, its no longer a "fad" or something "unusual" companies do. If you are on a public board, re-domiciling can protect your shareholders from ambulance chasers & outsized decisions (see data). Simply smart & good governance. You should take it seriously.
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🚨An NYC official is lobbying shareholders to block ExxonMobil's move to Texas. Comptroller Mark Levine, trustee of NYC's 5 pension funds, argues the move would "insulate the Board from accountability to shareholders." Exxon stated the company is "not adopting any elective provisions of the Texas corporate statute that could be viewed as weakening shareholder rights as compared to New Jersey law." The company notes its global headquarters have been in Texas since 1989, and ~75% of its U.S. employees are already based there. Exxon (NJ → TX) votes May 27. $600B+ market cap.
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