Deere Announces Senior Leadership Changes including Ryan Campbell as President, Worldwide Construction & Forestry; Raj Kalathur as CFO

Rhea-AI Summary

Deere & Company has announced leadership changes effective May 31, 2022, electing Ryan Campbell as President of Worldwide Construction & Forestry and Power Systems, succeeding John Stone. Campbell aims to enhance precision technology adoption and sustainable practices. Additionally, Raj Kalathur has been appointed Chief Financial Officer while retaining his role in John Deere Financial, overseeing accounting, treasury, and sustainability. Kalathur's leadership saw growth in the company’s financial portfolio exceeding $50 billion. This strategic shift is aimed at executing Deere's smart industrial strategy.

Positive

• Ryan Campbell's leadership is expected to boost innovation in precision technology and sustainability efforts.
• Raj Kalathur's financial experience may contribute to continuing growth in financial services.

Negative

• The departure of John Stone may create continuity concerns in leadership during transition.
• Potential gaps in experience may arise with the new leadership roles assuming significant responsibilities.

• The Deere & Company Board of Directors has elected Ryan Campbell as President, Worldwide Construction & Forestry and Power Systems effective May 31.
• Deere also announced the election of Raj Kalathur as the company's Chief Financial Officer

MOLINE, Ill. , May 31, 2022 /PRNewswire/ -- Deere & Company (NYSE: DE) announced that its Board of Directors elected Ryan Campbell as President, Worldwide Construction & Forestry and Power Systems effective May 31. He is succeeding John Stone, who has elected to leave the company.

In his new role, Campbell will be leading the Construction & Forestry team to increase the adoption of precision technology in earthmoving, forestry and roadbuilding applications, as well as delivering a broad range of electric and hybrid-electric product models – all with a goal to boost economic value and sustainability for customers. Campbell will additionally be leading the company's commitment to deliver viable low/no carbon alternative power solutions via Deere's Power Systems group.

Throughout his tenure, Campbell has spearheaded initiatives focused on enhancing Deere's profitability and strategic positioning, developing future leaders, and has been an unrelenting advocate for driving higher levels of commitment to economic and environmental sustainability through Deere's digitalization journey.

"Ryan's record of success and proven leadership skills make him highly qualified to ensure we will make continued progress executing our smart industrial strategy and in serving our construction, forestry and power systems customers at the highest level," said John C. May, Chairman and Chief Executive Officer.

Deere also announced the election of Raj Kalathur as the company's Chief Financial Officer. He will retain his present duties for John Deere Financial and have continued oversight for information technology. His areas of responsibility as CFO include accounting and reporting, treasury, taxes, internal audit, strategy and business development, sustainability, and investor relations.

Prior to assuming his current role, Kalathur was President, John Deere Financial and Chief Information Officer (CIO) where he led the team responsible for ensuring that John Deere equipment customers throughout the world have ready access to competitive financing. Under Kalathur's leadership, the John Deere Financial loan portfolio has grown to over $50 billion. In addition, Kalathur served as CIO and successfully helped lead the company's digitalization journey. His CIO responsibilities will now be led by Ganesh Jayaram who has been appointed as the Chief Information Officer, effective May 31.

"The leadership changes announced today reflect the depth of talent on our senior management team and ensure we will make continued progress executing our smart industrial strategy," said May.

About Deere & Company:

Deere & Company (www.JohnDeere.com) is a global leader in the delivery of agricultural, construction, and forestry equipment. We help our customers push the boundaries of what's possible in ways that are more productive and sustainable to help life leap forward. Our technology-enabled products including John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe are just some of the ways we help meet the world's increasing need for food, shelter, and infrastructure. Deere & Company also provides financial services through John Deere Financial.

For more information on Deere & Company, visit us at www.deere.com/en/news/.

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SOURCE Deere & Company

FAQ

Who is the new President of Worldwide Construction & Forestry at Deere?

Ryan Campbell has been appointed as the new President of Worldwide Construction & Forestry and Power Systems effective May 31, 2022.

What changes were announced regarding Deere's financial leadership?

Raj Kalathur has been elected as the Chief Financial Officer while maintaining his role overseeing John Deere Financial.

What are Ryan Campbell's goals in his new role at Deere?

Campbell aims to increase the adoption of precision technology and promote sustainability within the company’s operations.

What is the significance of Raj Kalathur's appointment as CFO?

Kalathur's appointment is significant due to his prior experience leading John Deere Financial and his oversight of a loan portfolio exceeding $50 billion.