Exxon wins shareholder backing for Texas move, defeats retail voting proposal

By Sheila DangWed, May 27, 2026 at 3:21 PM UTC

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Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration

By Sheila Dang

HOUSTON, May 27 (Reuters) - Exxon ‌Mobil shareholders ‌on Wednesday approved the ​company's plan to redomicile in Texas, marking a win ‌for the ⁠top U.S. oil producer after ⁠two leading proxy advisory firms advised ​investors ​to ​strike down ‌the proposal.

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Shareholders also rejected a proposal to add more automatic voting options to ‌Exxon's retail ​investor voting ​program. ​Exxon's board ‌was opposed to ​the ​proposal.

(Reporting by Sheila Dang in Houston ​and ‌Arunima Kumar in ​Bengaluru; Editing by ​Joyjeet Das)

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Source: “AOL Money”