Deere names CEO John May chairman

(Reuters) – Farm equipment maker Deere & Co 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)