Exxon Mobil Corp. will become ExxonMobil Holdings Corp. following its move to Texas from New Jersey, marking the company’s first name change since the Mobil merger over 25 years ago.
Each share of Exxon will be exchanged for a share in the new holding company. The new stock will begin trading under the existing NYSE:XOM ticker on Thursday, the oil company said in a regulatory filing on Wednesday.
Shareholders approved the relocation from New Jersey to Texas at the annual meeting in May.
The last name change for North America’s largest oil company occurred in late 1999, when Exxon Corp. merged with Mobil Corp. to form Exxon Mobil Corp. The Exxon name was first adopted in 1972 by the company previously known as Jersey Standard.
Exxon Mobil shares are currently trading at 137 USD, up from 115 USD twelve months ago.