DALLAS, May 27, 2026 — Texas Stock Exchange Chairman and CEO James H Lee issued the following statement on ExxonMobil shareholders' vote to approve reincorporating the company in Texas:
"This outcome is a decisive win for retail investors and a major blow to the foreign-owned proxy adviser duopoly, which has long counted on retail silence to defeat proposals supported by participating shareholders. Retail shareholders invest their own money and expect a system that honors that commitment — not one in which the exchange and proxy duopolies dampen their voice, their governance rights, and ultimately their financial interests. Exxon took an innovative approach to fix that, and shareholders showed up.
"Exxon's move is also a watershed moment for America's capital markets, and the direct result of Governor Abbott and the legislature transforming Texas into the top jurisdiction for business in the U.S. The legal and economic reforms enacted over the past two legislative sessions will be felt for generations, and the Texas Stock Exchange is proud to have championed them. Hundreds of companies representing trillions of dollars in market capitalization are poised to make similar moves. With today's action it is clear the faucet is about to unload."
About the Texas Stock Exchange
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