Energy firm Schneider Electric is moving its U.S. headquarters from Palatine to Andover, Mass. a company spokesperson confirmed Thursday.
The company recently built a new research and development Center, named Boston ONE in Andover to harness the talent coming out of the Boston area, Schneider’s President and CEO, Laurent Vernerey, told the Boston Globe on Wednesday.
“With this new headquarters, I wanted to make a statement,” he said to the Globe. “We should be in a place where customers will come on a regular basis.”
Verenerey will also be based in Andover, according to a company spokesperson, making that facility the new U.S. headquarters. He was unavailable to the Tribune for comment.
Boston ONE is one of five research and development facilities in the world for Schneider Electric. It will serve as a hub of “innovation and efficiency” for the company. Schneider Electric is an energy management firm with operations in more than 100 countries. It provides tools to control and operate electric and climate-control systems for a variety of market segments including utilities and infrastructure, machine manufacturers and data and network centers. The company achieved sales of $31 billion in 2013, according to a spokesperson.
The Palatine facility, which employs 350 people in administrative roles such as marketing, human resources, purchasing and strategy, will not be impacted by the move, according to the spokesperson.
“The designation of Boston ONE as the new North America Headquarters does not change the importance of our other locations in North America. Palatine, in particular, remains an important location and hub for various functions, talent and expertise,” the spokeswoman said in an email.
The company has not received any tax incentive packages from the state of Illinois according to a spokesman at the Department of Commerce and Economic Opportunity.