Nearly one year after Caterpillar Inc. announced its intention to move top executive offices — and the headquarters title — out of Peoria, the new home in Deerfield is finally official.
A filing with the Securities and Exchange Commission at the end of the first week of January for the first time listed the company’s address for principal executive offices as 510 Lake Cook Road, Suite 100, Deerfield, Ill.
The document later noted the address had been changed since the last report, though Caterpillar has been using a Deerfield dateline on corporate communications for several months.
The filing itself reported the retirement of Jesse J. Greene Jr. from the company’s board of directors, effective on the last day of 2017.
According to the document, the retirement was a result of Greene “reaching the company’s mandatory retirement age for directors as provided in the company’s guidelines on corporate governance issues and not as a result of any disagreement with the company.”
At the end of January 2017, Caterpillar announced it would not move forward with stalled plans to build a new global headquarters campus Downtown and would instead locate a “lean” headquarters in the Chicago area.
The company at the time indicated about 100 employees would work at the new office by the end of 2017, with a workforce of 300 expected once the new headquarters became fully operational. A Caterpillar spokeswoman on Monday said those figures remained accurate.
Caterpillar announced Deerfield as the home of its new headquarters in April 2017 and moved some employees there by the summer. The first executives were expected to begin working there later in the fall.
The decision to relocate coincided with a strong rebound in business, with the company breaking out of a four-year slump in 2017 and repeatedly revising its revenue projections.
Final earnings numbers for the fourth quarter and the year will be released later this month, when Caterpillar will provide its first official guidance figures for 2018.
The company’s stock price steadily climbed in 2017, almost continuously rising higher into record territory for the last half of the year. Cat stock gained more than 2.5 percent on Monday to close at $166.03 per share — another record.