Exxon Mobil criticizes ISS over Texas redomicile recommendation

Investing.com -- Exxon Mobil has criticized Institutional Shareholder Services for recommending against its proposal to redomicile to Texas, claiming the proxy advisor relied on flawed analysis and failed to disclose a conflict of interest related to ongoing litigation with the Texas Attorney General.

The oil company accused ISS of engaging in scaremongering based on speculation about potential shareholder rights degradation. Exxon Mobil stated it is not adopting optional Texas provisions that could diminish shareholder rights.

The company also raised concerns about ISS support for a retail voting proposal, suggesting this creates conflicts related to custom voting policies.

Exxon Mobil encouraged shareholders to evaluate proposals independently based on all available data.

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