May. 12 at 8:43 PM
Exxon Mobil rejected claims by New York City Comptroller Mark Levine regarding its proposal to move its corporate domicile to Texas, calling his letter to shareholders politically motivated and misleading. The company said the relocation is unrelated to its Voluntary Retail Voting Program and is intended to better align governance with its operational base while preserving shareholder rights.
Exxon also disputed Levine’s claims about SEC approval of the voting program, stating it worked with regulators for years across two administrations. The company cited external governance analysis supporting its disclosures and accused NYC comptrollers of pressuring firms managing city pension funds for political reasons. Exxon urged shareholders to vote based on the company’s long-term interests.
$XOM