MOLINE, Ill. — John Deere's CEO was elected as a chairman on the company's board of directors, a position to open following a retirement.
Former CEO Samuel Allen announced his retirement from the Deere & Company Board of Directors Monday, effective May 1. The Deere board elected the company's current CEO, John May, to fill Allen's position as a chairman, according to a statement from John Deere.
May was elected CEO in Nov. 2019.
Allen has been a chairman since 2010 and served as CEO from 2009 to 2019.
The statement said during Allen's tenure as CEO, the company investment in philanthropic causes more than doubled and an employee volunteer program was created.
“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,” May said in the statement.
