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John Deere Latest News: Announces New Senior VP & Chief Legal Officer

Deere & Company reported a decrease in net income to $1.751 billion and a 4% drop in worldwide net sales to $12.185 billion for Q1 2024

Key Takeaways:

  • Kellye Walker has been appointed Senior Vice President, Chief Legal Officer, and Worldwide Public Affairs at Deere & Company.
  • Walker, with over 25 years of experience, succeeds Mary Jones and will oversee global law and patent departments, along with public affairs and environmental, health, and safety functions.
  • Her background includes significant roles at Eastman Chemical Company, Huntington Ingalls Industries, Inc., and other prominent organizations.

Leadership Transition at Deere & Company

Deere & Company (NYSE: DE) has officially announced the appointment of Kellye Walker as the new Senior Vice President, Chief Legal Officer, and Worldwide Public Affairs, with her tenure beginning April 29. Walker will be taking over the responsibilities previously held by Mary Jones, including the oversight of the company’s global law and patent departments, as well as its public affairs and environmental, health, and safety operations.

Extensive Experience in Legal and Administrative Roles

Walker’s career is marked by more than 25 years in senior executive and legal positions, recently serving as Vice President & Chief Legal Officer at Eastman Chemical Company. In this role, she managed a wide array of legal and regulatory functions, including corporate governance, compliance, intellectual property, and litigation, among others. Her experience extends beyond the chemical sector, with prior roles at Huntington Ingalls Industries, Inc., American Water Works Co., and as a corporate partner in major law firms in both Boston and New Orleans.

Statements from Deere & Company’s Leadership

John May, Chairman & CEO of Deere & Company, expressed his confidence in Walker’s capabilities, stating, “Over the course of her career, Kellye has compiled an impressive record of experience and achievement. Her exceptional strategic leadership and problem-solving skills, along with her proven ability to deliver results in a rapidly changing environment, will be of real benefit to our company.”


John Deere Latest News

Largest Product Launch In Its History (2024/02/29)

John Deere unveiled new equipment solutions for Model Year 2025 at the Commodity Classic tradeshow in Houston, Texas. The lineup includes autonomy-ready tractors, C-Series Air Carts, AI-enabled See & Spray™ Premium, and S7 Series Combines. These products are designed to meet the evolving needs of customers and advance their farming operations, while also promoting productivity and sustainability.

Q1 2024 Financial Performance (2024/02/16)

Deere & Company’s Q1 2024 report shows a challenging economic environment. Despite this, the company has managed to navigate through with strategic initiatives aimed at enhancing productivity and sustainability. The segment-specific performance of Deere’s Production and Precision Agriculture, Small Agriculture & Turf, and Construction & Forestry are detailed in the report. CEO John C. May highlighted the company’s commitment to advancing agricultural productivity and sustainability. Deere anticipates a moderation in fleet replenishment rates as agricultural fundamentals normalize, but the company remains confident in its unique position to meet accelerating demand. Overall, Deere is well-positioned to navigate the complexities of the global market.

Read the complete results here.

2024 Startup Collaborator Program Participants (2024/01/25)

John Deere’s 2024 Startup Collaborator program selects six startups focusing on innovations in agriculture and construction, emphasizing mutual learning and the exploration of new methods to enhance customer value. The diverse group of participants specializes in satellite-based land analysis, artificial intelligence, quantum sensing, bidirectional charging platforms, digital logistics solutions, and production management software, aiming to address customer challenges and opportunities in these sectors. This initiative reflects John Deere’s commitment to advancing technology and maintaining its global agricultural and construction industry leadership.

John Deere Partners With SpaceX For SATCOM Services (2024/01/19)

Deere & Company has partnered with SpaceX to introduce a satellite communications (SATCOM) service for the agricultural sector, using the Starlink network to enhance connectivity, especially in rural areas. This industry-first collaboration aims to boost productivity, profitability, and sustainability in farming by connecting both new and existing machinery, thus enabling a range of technologies for efficient farming. The service, starting in the second half of 2024 in the United States and Brazil, will leverage satellite internet to support precision agriculture technologies like real-time data sharing, remote diagnostics, and machine-to-machine communication. This initiative, which represents a significant advancement in agricultural technology, is expected to greatly benefit farmers, particularly those in areas with limited cellular coverage, by providing them with advanced connectivity solutions to improve their operations.

Introduces Self-Repair Service (2023/12/05)

John Deere’s latest innovation includes an enhanced self-repair solution that allows customers to remotely download secure software updates directly to embedded controllers on compatible 4G-connected equipment. The Equipment Mobile app, available on iOS and Android, simplifies equipment management and maintenance. Integrating this new feature with the John Deere Operations Center™ elevates the ease of managing and updating equipment, while the expansion of Customer Service ADVISOR™ helps diagnose, troubleshoot, and perform equipment repairs. These advancements highlight John Deere’s commitment to sustainable innovation and customer empowerment.

John Deere Financial Results: Financial Performance in 2023 (2023/11/23)

Deere & Company has reported a robust financial year for 2023, with net income at $10.166 billion, up by 43% from 2022. Despite a 1% decrease in Q4, annual net sales and revenues increased by 16%, reaching $61.251 billion. The company attributes its success to its Smart Industrial Operating Model, employee and partner contributions, and customer-centric innovation. For 2024, Deere & Company forecasts a net income between $7.75 billion and $8.25 billion.

Read more here.

John Deere Foundation Announces $19M in Grants to Eliminate Global Hunger (2023/10/27)

The John Deere Foundation has announced $19 million in grants to eliminate global hunger. The grants aim to increase access to food, support resource-constrained farmers, and promote natural climate solutions. The recipients include World Food Program USA, One Acre Fund, and The Nature Conservancy. These grants are the largest in the foundation’s history, and they align with John Deere’s commitment to creating a world where food is a moral right for all.

John Deere Financial Results: Q3 Financial Results (2023/08/21)

Deere & Company (NYSE: DE) reported a significant increase in net income and sales for Q3 2023. Net income rose to $2.978 billion, or $10.20 per share, compared to $1.884 billion, or $6.16 per share in 2022. Worldwide net sales and revenues for Q3 increased by 12%, totaling $15.801 billion. The company forecasts a net income of $9.75 billion to $10.00 billion for fiscal 2023.

John Deere Acquires Smart Apply (2023/07/20)

John Deere has acquired Smart Apply, a precision spraying equipment company to revolutionize the way growers manage orchards, vineyards, and tree nurseries. Smart Apply’s technology reduces chemical use, airborne drift, and chemical runoff, and John Deere’s investment will expand its reach and help growers address their biggest challenges. The acquisition is a significant step towards a more sustainable and productive future in precision agriculture, making it a win-win for farmers and the planet.

John Deere Financial: Reports Second Quarter (2023/05/19)

John Deere’s financial show a significant increase in net income for the second quarter and first six months of 2023, marking a substantial rise from the same periods last year. Worldwide net sales and revenues also saw a considerable increase. The company’s Chairman and CEO, John C. May, attributed these outstanding results to favorable market conditions, improved operations, and dedicated teamwork despite ongoing supply-chain challenges. Looking ahead, Deere forecasts a net income of $9.25 billion to $9.50 billion for fiscal 2023, reflecting another year of exceptional achievement driven by its smart industrial operating model and a focus on customer profitability, productivity, and sustainability. The report includes forward-looking statements subject to various risks and uncertainties that could significantly impact the company’s operations and financial results. Factors such as changes in laws, economic conditions, geopolitical conflicts, climate change, and supply chain disruptions are among the considerations that could affect future outcomes.

Read more here.

John Deere Unveils 2023 Cohort Of Start-Ups (2023/01/10)

John Deere has announced eight businesses for its 2023 Startup Collaborator program aimed at enhancing precise technology in construction and agriculture. The startups include Albedo, ANELLO Photonics, GrAI Matter Labs, Impossible Sensing, IntelliCulture, Precision AI, RodRadar, and Vega. These startups are working on innovative solutions ranging from low-flying satellites for detailed thermal and visual imaging to AI-driven agricultural drones for plant-level pesticide applications. John Deere hopes to leverage the expertise of these startups to improve its agricultural and construction equipment.

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