By: Rob Wertheimer
Deere announced John May will be the next CEO, starting in November. The announcement is as expected; John had been President and COO since April, a position that Deere has used to signal transition to the CEO role. It is an impactful change nonetheless, and we want to take a second while running out to an airport to reflect on the past and future at Deere. Deere is in the early stages of a pivot in strategy that the markets may not have fully absorbed yet, and John May has been leading the way on the new path for several years in the background. There are, however, still some legacy overhangs that cloud that opportunity.