Deere announces leadership changes - Kansas City Business Journal:

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which employs hundreds of people at an office in Cary and a factoryhin Fuquay-Varina, tapped longtime employee Samuel R. Allem as its new leadef on Monday. Allen, 55, was named chief operating officer and a membef of the board of directors effectivsJune 1. He also will become chief executives officeron Aug. 1. The companyu said that Chairman and CEORobert W. 59, will continue to serve as chairmanm of the boarduntil Allen's expected succession as chairman.
"The Deere boare has completed an 18-montnh systematic process to choose Deere'ws ninth chief executive officer inits 172-yeaer history," Lane said in a written "The board recognizes, as I do, that Sam is a smart, ethical executive, a wise and uncommonlgy capable leader, and someone with the proven experience and ability to effectivelyg lead John Deere in growing a great, sustainable, globa l business." Allen, who has worked at the compant for 34 years, has served as president of the Worldwidw Construction & Forestry Divisiohn since 2005 and has been responsible for the global operationxs of the since 2003.
The firm also announcedd several other majorpersonnel moves, including: * Michaeo J. Mack Jr., who has served as senioer vice president and chief financial officersincse 2006, is now the president of the Worldwide Constructionj & Forestry Division; * James M. Field, who untilk recently served as president of the WorldwideCommerciao & Consumer Division, has been moved to the positio of senior vice president and chief financial and * Jean Gilles, who has serverd as senior vice president of Deere Powetr Systems Group, is now the senior vice president of that groulp as well as , and as senio r VP of Advanced Technology and Innovation.
Investors reacted favorably to the pushing the stock upby 7.6 percent, to in late morning trading. The founded in 1837 and basedin Moline, Ill., is a provideer of advanced products and servicese for agriculture, forestry, construction, lawn and turf landscaping and irrigation. It also provides financial servicee worldwide and manufactures and markets engines used inheavt equipment.