Agricultural equipment maker, Deere & Company (NYSE:DE) , declared changes to its senior management team due to the planned retirement of Michael J. Mack, the current Group President, John Deere Financial Services, Global Human Resources and Public Affairs.
Mack is retiring after more than 30 years of distinguished service. He worked in four business divisions at Deere and was based in multiple U.S. cities as well as in Europe.
On the other hand, Marc A. Howze – the present Vice President, Human Resources – will be appointed as Senior Vice President and Chief Administrative Officer. His responsibilities will now include human resources, labor relations, public affairs, communications, brand management, and security.
Howze joined Deere in 2001 and has served in a number of positions in the company’s legal department, including Associate General Counsel and Corporate Secretary. The new position will let him focus on improved integration of important enterprise functions to drive employee engagement and effective execution of the John Deere Strategy.
Further, Reed will be appointed as President of John Deere Financial. Reed is currently serving Deere as Senior Vice President in the Worldwide Agriculture & Turf Division, with responsibility for the Intelligent Solutions Group. He has been involved in developing and implementing Deere's precision agriculture strategy.
Deere currently sports a Zacks Rank #1 (Strong Buy).
Other favorably placed stocks in the same sector are Berry Plastics Group, Inc. (NYSE:BERY) , Gorman-Rupp Co. (NYSE:GRC) and DXP Enterprises, Inc. (NASDAQ:DXPE) . All these stocks sport the same Zacks Rank as Deere. You can see the complete list of today’s Zacks #1 Rank stocks here.
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DEERE & CO (DE): Free Stock Analysis Report
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