March 2, 2020 / 2:54 PM / a month ago

Deere names CEO John May chairman

FILE PHOTO: Equipment for sale is seen at a John Deere dealer in Denver, Colorado, U.S. May 14, 2015. REUTERS/Rick Wilking/File Photo

(Reuters) - Farm equipment maker Deere & Co (DE.N) on Monday named Chief Executive Officer John May chairman, effective May 1.

May replaces Samuel Allen, who is stepping down from the position, the company said in a statement.

Allen has been Deere’s chairman since 2010 and was the company’s CEO from 2009 till 2019. May was named CEO in November 2019.

Reporting by Rachit Vats in Bengaluru; Editing by Anil D'Silva

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