PACCAR CEO R. Preston Feight Appointed to Deere Board of Directors
Rhea-AI Summary
Deere & Company (NYSE: DE) has appointed PACCAR CEO R. Preston Feight to its board of directors, expanding the board to 12 members. Feight, who has been PACCAR's CEO since July 2019, brings 26 years of experience from the global truck manufacturing company. His expertise spans engineering, manufacturing, aftermarket, and financial services, with a strong focus on advanced technologies including diesel, electric, and hydrogen fuel cell powertrains. Under his leadership, PACCAR has advanced in driver assistance systems and truck connectivity. Prior to becoming CEO, Feight held various leadership positions at PACCAR and previously worked at AlliedSignal and Ford.
Positive
- Board strengthened with experienced CEO from complementary industrial sector
- Addition of technology and engineering expertise relevant to Deere's Smart Industrial Operating Model
- Expansion of board independence with 11 out of 12 directors being non-employee members
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, PCAR declined 0.89%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Feight's leadership at PACCAR has been characterized by pioneering advancements in engineering, manufacturing, aftermarket, and financial services capabilities. His strong emphasis on technology has positioned PACCAR as a leader in advanced powertrains—including diesel, electric, and hydrogen fuel cells—as well as in sophisticated driver assistance systems and truck connectivity.
"We're pleased to welcome Preston to the Deere board—an accomplished leader whose experience as CEO of another innovative industrial company aligns perfectly with our own transformation journey," said John C. May, Deere's chairman and CEO. "His leadership at PACCAR, which has a strong history of collaboration with Deere, along with his extensive business strategy and technology background, will be invaluable as we advance our Smart Industrial Operating Model."
In his 26 years with PACCAR, Feight has held positions as director of product planning, chief engineer, assistant general manager of sales and marketing, and general manager of Kenworth Truck Company, as well as president of DAF Trucks. In 2018, he was appointed PACCAR executive vice president and became CEO in July 2019. Earlier in his career, Feight held engineering roles at AlliedSignal and Ford.
He holds a Bachelor of Science degree in Mechanical Engineering from
With Feight's appointment, the size of Deere's board has increased to 12 members, 11 of whom are independent, or non-employee, directors.
About Deere & Company
Deere & Company (www.JohnDeere.com) is a global leader in the delivery of agricultural, turf, 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 John Deere Company
FAQ
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