Exxon Mobil Corp. announced that it will change its corporate name to ExxonMobil Holdings Corp. as part of its move from New Jersey to Texas. The company disclosed the new name in a regulatory filing made public on Wednesday. The filing states that each outstanding share of Exxon will be exchanged for a single share in the newly formed holding company.
Under the terms reported in the filing, the new shares will begin trading under the current NYSE:XOM ticker on Thursday. The company did not outline any additional adjustments to share structure in the filing beyond the one-for-one exchange.
Shareholders had previously voted to approve the company's relocation from New Jersey to Texas at the annual meeting held in May. The regulatory filing on Wednesday formalized the name that will accompany the relocated corporate structure.
This marks the first time the company has altered its name in decades. The last recorded name change took place in late 1999 when Exxon Corp. merged with Mobil Corp., creating Exxon Mobil Corp. The filing reiterates that the Exxon name itself was adopted in 1972 by the firm that had been known as Jersey Standard.
The regulatory filing and shareholder vote are the only developments referenced in the company disclosure. The filing specifies the mechanics for the conversion of outstanding shares and the timing for when the new stock will trade under the existing ticker, but it does not include additional commentary on operational, financial, or market impacts tied to the relocation and name change.
Summary of the change
- The corporate name will become ExxonMobil Holdings Corp.
- Each current share will be exchanged for one share in the new holding company.
- The reissued stock will trade under the existing NYSE:XOM ticker starting Thursday.
- Shareholder approval for the relocation from New Jersey to Texas occurred at the company’s May annual meeting.
- This is the first name change since the late-1999 Exxon-Mobil merger; the Exxon name dates back to 1972 when Jersey Standard adopted it.