Deere & Co. (NYSE: DE), the largest U.S. maker of farm equipment, says its board of directors has elected CEO Samuel R. Allen as chairman of the board, according to Associated Press.
Allen, 56, will succeed Chairman and former CEO Robert W. Lane, whose term expires Feb. 24.
Penny Stock Professor, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Penny Stock Picks.
As a 34-year veteran of Deere, Allen has been president of the company's construction and forestry division since 2005. He has also been responsible for the global operations of its power systems group and has managed human resources, industrial relations and Deere's global credit operations, the company said.
Allen was appointed CEO in June and took the top job Aug. 1, replacing Lane.
Shares of Deere stock rose 42 cents to $54.42 in afternoon trading.
Follow us on Twitter: http://www.twitter.com/pennystockspro
Sign up for the free Penny Stock Professor newsletter. To subscribe, enter your e-mail address into the frame at the bottom of this press release or visit our website.
About Us
Penny Stock Professor is a leading stock web site that allows investors and interested parties to research stocks that are on the move. We also track small cap companies that are on the brink of a financial breakout. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer.
