ExxonMobil, one of the world’s largest gas and oil corporations, announced on Tuesday that it intends to move its legal headquarters from New Jersey to Texas. “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,” Woods added. Exxon Mobil plans to move its legal home to Texas from New Jersey, joining other companies that have relocated to the Lone Star state in search of a more business-friendly environment https://t.co/orfYjYzHy8 — The Wall Street Journal (@WSJ) March 10, 2026 More from The Texas Tribune: The proposed move will not affect the company’s business operations or employee locations, the company said. ExxonMobil has been headquartered in Texas since 1989, and about 30% of its employees currently work in the state. The location of a company’s incorporation dictates the legal, tax and regulatory landscape for the business. Exxon would join Tesla, Space X and Coinbase as major U.S. companies to redomicile in Texas in recent years as the state moves to become more business friendly. In 2023, the Legislature passed and Gov. Greg Abbott signed a law that created the Texas Business Court and the 15th Court of Appeals, specialized legal venues designed to handle business and commercial disputes. Those courts began operating in 2024. Last year, the Legislature also approved a law that made it more difficult to sue board members of companies incorporated in Texas. “ExxonMobil makes Texas its legal home, exiting New Jersey. It just makes sense. The largest oil company in America belongs in the #1 state for oil & gas. We free businesses large & small from costly regulations to make it easier to succeed. That has made Texas # 1 for new jobs and opportunity,” Gov. Greg Abbott said. ExxonMobil makes Texas its legal home, exiting New Jersey. It just makes sense. The largest oil company in America belongs in the #1 state for oil & gas. We free businesses large & small from costly regulations to make it easier to succeed. That has made Texas # 1 for new jobs… https://t.co/WWi9K1qtgb — Greg Abbott (@GregAbbott_TX) March 10, 2026 Fox Business has more: New Jersey officials sued Exxon, Chevron and other fossil-fuel companies in 2022, alleging they contributed to climate change and forced the state to spend billions cleaning up after major natural disasters such as Superstorm Sandy and Hurricane Ida. The suit was dismissed last year. Exxon has also faced years of high-profile clashes with activist investors and climate-focused shareholder campaigns. In 2021, activist hedge fund Engine No. 1 won three seats on Exxon’s board in a proxy fight centered on the company’s climate strategy. Exxon later sued activist investors in 2024 over climate-related shareholder proposals, arguing they were attempting to abuse SEC rules governing proxy resolutions. The company has repeatedly pushed back against shareholder proposals seeking stricter climate disclosures, emissions targets and changes to its long-term fossil fuel strategy.