- Samuel R. Allen to become Chief Executive Officer effective 1 August
- Robert W. Lane to continue as Chairman during transition.
- Board follows systematic process to select company's 9th leader.
MOLINE, Ill., June 1 /PRNewswire-FirstCall/ -- Deere & Company today
announced that its board of directors has elected Samuel R. Allen, 55,
president, chief operating officer, and a member of the board of directors
effective 1 June, and chief executive officer effective 1 August. Robert W.
Lane, 59, chairman and CEO, will serve as chairman of the board until Allen's
expected succession as chairman.
"The Deere Board has completed an 18-month systematic process to choose
Deere's ninth chief executive officer in its 172-year history," Lane said.
"The board recognizes, as I do, that Sam is a superb, smart, ethical
executive, a wise and uncommonly capable leader, and someone with the proven
experience and ability to effectively lead John Deere in growing a great,
sustainable, global business."
A 34-year veteran of John Deere, Allen has been president of the
Worldwide Construction & Forestry Division since 2005 and has been responsible
for the global operations of the Deere Power Systems Group since 2003. Allen
has served since 2001 as a senior officer of the company with early senior
leadership responsibilities in human resources and industrial relations and
the oversight of John Deere Credit's global operations.
In addition, Allen has been responsible for Deere's intelligent mobile
equipment technologies and for Deere's advanced technology and innovation
since 2007. Previously in his career, he worked in positions of increasing
responsibility in the Consumer Products Division, Worldwide Construction &
Forestry Division, Deere Power Systems Group, and the Worldwide Agricultural
Division, including managing operations in Latin America, East Asia, and
"I am honored to have been selected by the board of directors to follow
in the footsteps of previous chief executives who have led Deere with great
distinction," Allen said. "We have significant challenges but exciting global
opportunities. I look forward to working with all of the uncommonly-committed
employees of John Deere to distinctively serve our global customers in ways
that are highly rewarding to our shareholders."
Other senior executive moves include:
-- Michael J. Mack, Jr., who has served as senior vice president and
financial officer since 2006, to the position of president, Worldwide
Construction & Forestry Division;
-- James M. Field, who until recently served as president of the
Commercial & Consumer Division and before that as vice president and
comptroller of Deere & Company, to the position of senior vice
president and chief financial officer; and
-- Jean Gilles, who has served as senior vice president of Deere Power
Systems Group, to the senior officer position of senior vice
Deere Power Systems Group, Deere Intelligent Mobile Equipment
Technologies, and Advanced Technology and Innovation.
John Deere (Deere & Company - NYSE: DE) is a world leader in providing
advanced products and services for agriculture, forestry, construction, lawn
and turf care, landscaping and irrigation. John Deere also provides financial
services worldwide and manufactures and markets engines used in heavy
equipment. Since it was founded in 1837, the company has extended its heritage
of integrity, quality, commitment and innovation around the globe.
For further information:
For further information: Ken Golden, Director, Strategic Public
Relations of Deere & Company, +1-309-765-5678 Web Site: http://www.deere.com