MOLINE, Illinois (AP) -- Deere & Co., the largest U.S. maker of farm equipment, says its board of directors has elected CEO Samuel R. Allen as chairman of the board.
Allen, 56, will succeed Chairman and former CEO Robert W. Lane, whose term expires Feb. 24.
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.