Summary
Deere & Company (DE) has announced a significant leadership change, electing Rajesh Kalathur as its new Chief Financial Officer, effective May 31, 2022. Mr. Kalathur will assume this additional responsibility while retaining his roles as President of John Deere Financial and Senior Vice President of Global Information Technology. This appointment marks a return to a CFO role for Mr. Kalathur, who previously held the position from 2012-2019, and brings extensive experience within the company across various finance, business development, and operational functions since joining in 1996. In conjunction with his new role, Mr. Kalathur's compensation package has been adjusted. His base salary will increase by five percent to $887,758. His target awards for both short-term (STI) and long-term (LTIC) incentive plans will also see a proportionate five percent increase, with payouts tied to key performance indicators such as Operating Return on Assets (OROA), Operating Return on Sales (OROS), Return on Equity (ROE), Shareholder Value Added (SVA), and Total Shareholder Return (TSR). This filing primarily details these executive and compensation changes, referencing a related press release for further information.
Key Highlights
- 1Rajesh Kalathur appointed Chief Financial Officer (CFO) effective May 31, 2022.
- 2Mr. Kalathur will hold three key roles: CFO, President of John Deere Financial, and SVP of Global IT.
- 3This is a return to the CFO role for Mr. Kalathur, who previously served in this capacity from 2012-2019.
- 4Mr. Kalathur's base salary will increase by 5% to $887,758.
- 5Target incentive compensation (STI and LTIC) will also increase by 5% and is tied to company performance metrics.
- 6Ryan D. Campbell has been elected President of Worldwide Construction & Forestry and Power Systems.
- 7No family relationships or related party transactions exist between Mr. Kalathur and the Company.