Caterpillar's historic HQ in Peoria, Illinois

Caterpillar's historic HQ in Peoria, Illinois

Caterpillar has announced it will be relocating some of its senior executives to a new base in Chicago, later this year.

The US construction giant has historically been based in the Midwest of the country, at its HQ in Peoria, Illinois.

In a statement, Caterpillar CEO, Jim Umpleby, said the board of directors decided on the move, as “Locating our headquarters closer to a global transportation hub, such as Chicago, means we can meet with our global customers, dealers and employees more easily and frequently.”

He went on to say that the vast majority of Caterpillar staff, facilities and functions would remain in place in Peoria, adding, “The new location is also an opportunity to add to our talented team while improving the productivity of our senior leaders.”

A limited number of senior staff will initially move into leased office space in Chicago, with a total of around 300 employees expected to be based there in the long-term.

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