Chicago – Deere & Co. announced today, Jan. 13, 2000, that it has named Robert Lane as president and chief operating officer – a position that has been vacant since 1996. According to a press release issued about the announcement, the move has raised speculation that Lane could now be in position to be the next chief executive of the large equipment company.
Lane has been with Deere since 1982. He had been named chief of Deere’s worldwide agricultural equipment division in August. At the time, analysts said that promotion put Lane in a three-way horse race to succeed Chairman and CEO Hans Becherer at the top of Deere. Becherer is 64 years old and had been president before becoming chairman. "It seems to position Bob as heir apparent," said Tobias Levkovich, an analyst at Salomon Smith Barney.
According to the release, a spokesman for Deere declined to comment on whether Lane would be tapped to replace Becherer when the chairman and chief executive retires.
Fred Korndorf, also thought to be a possible successor to Becherer, will replace Lane as head of agricultural equipment. Korndorf had been president of Deere’s worldwide and commercial consumer equipment division. The third potential candidate for chief executive was seen as Pierre Leroy, who runs Deere’s construction equipment division.
