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Deere names new CEO

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Deere & Co. split its CEO and chairman roles.

John May, president and chief operating officer, was promoted to CEO. Outgoing CEO Samuel Allen will stay on as chairman.

"John's record of success and proven leadership skills make him highly qualified to lead Deere and guide its success in the years ahead," Allen said in a statement. "His experience in precision agriculture, information technology and overseas operations will be instrumental in driving the company's digitalization journey and extending its success in agricultural and construction equipment."

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