However, there are huge agency problems between the stated goals of a business (mainly, to make money for its shareholders), and the CEOs interests - where ego, power, and making money for himself might be more important than long-term decisions involving productivity.

http://en.wikipedia.org/wiki/Theory_of_the_firm

Apparently most relocations are closer to the CEOs home, for example:

https://news.ycombinator.com/item?id=8604202

New buildings are also monuments to the CEO (or President, or whatever authority builds it).