Deere Names Hans W. Becherer as Chairman and CEO
MOLINE, Ill. (AP) _ Hans W. Becherer was elected chairman and chief executive officer of Deere & Co. today by the board of directors, the company announced.
Becherer, 55, succeeds Robert A. Hanson, 65, who earlier announced his retirement as chairman effective Friday. Becherer, who has been serving as president and CEO, was considered the likely choice to succeed Hanson.
The farm and heavy equipment manufacturer’s board also named David H. Stowe Jr., 53, as president and chief operating officer. Stowe has served as Deere’s executive vice president for worldwide agricultural equipment and consumer products.
Bill C. Harpole, 56, was elected to succeed Stowe in the worldwide equipment and consumer products job, while Harpole’s former job of senior vice president for the worldwide parts and logistics division goes to Bernard L. Hardiek, 50, who has been Deere’s vice president for business development, planning and taxation.
Becherer joined Deere in 1962 and served in a various marketing and management positions in Europe. He was elected vice president responsible for marketing operations in Latin America, Australia and the Far East in 1977. In 1983, he was elected to senior vice president of the overseas farm and consumer products division, and in 1986 to executive vice president, worldwide farm equipment and consumer products.
He joined the company’s board of directors in February 1986 and was elected president and chief operating officer in April 1987. He was elected president and chief executive officer in August 1989.
In the last fiscal year, ending Oct. 31, Deere had net income of $380 million on revenue of $7.2 billion. The company has plants in eight countries and markets its products worldwide.