(RTTNews) - Deere & Co. (DE) said Thursday that it has appointed John May as a member of the board, effective immediately, and Chief Executive Officer, effective November 4, 2019. The 50-year-old May has served as the company President and Chief Operating Officer since April 2019.
Samuel Allen will continue as chairman of the board of directors after he steps down from the Chief Executive Officer position.
John May joined Deere in 1997 and became part of the senior management team in 2012 as President, Agricultural Solutions and Chief Information Officer. Last year, he was named President, Worldwide Agriculture & Turf Division, with responsibility for the Americas and Australia.
DE is currently trading at $156.32, up $3.60 or 2.36 percent.