After a 45-year career, the chairman of the Deere & Co. Board of Directors, Samuel R. Allen has elected to retire as chairman on May 1.
To replace him, the Deere board has elected John C. May - the company’s chief executive officer.
According to the company, Allen has been chairman of the board of directors since 2010 and
served as the company's chief executive officer from 2009 to 2019.
May was named CEO in November 2019, becoming that company’s 10th CEO.
“As a result of Sam’s leadership and vision, John Deere has developed a more dynamic business model and is uniquely positioned to capitalize on the demographic and technological trends that are defining the future of our businesses,” said May.
Deere & Co. says says Allen led the company to record growth and success. Over his decade of leadership, the company expanded its customer base, increased its global footprint, and made major gains in innovation and precision technologies.
“This was also a time of unmatched financial success which included nine of the 10 highest-earning years in company history,” May said.
“One of the most significant developments of the period was the emergence of precision technologies as a major factor in our industries. Sam established the Intelligent Solutions Group in 2012 to develop these technologies and help bring them to market,” May added.
“Today, products equipped with these advanced capabilities are making our customers far more productive while helping reshape Deere as a smart industrial company.”
Allen joined Deere as an industrial engineer in 1975 after graduating from Purdue University.
In 2001, he joined the company’s senior management team as senior vice president for human resources and industrial relations.
Two years later, he was named president of financial services, power systems, and human resources.