The chairman and CEO of Iowa’s largest manufacturing employer spoke at the annual Deere and Company shareholders meeting this week.
John May talked about the successes of the past year and how the Quad Cities-based company plans to grow in the year ahead.
“We’ve identified $150 billion of incremental, addressable market that will be shared by customers, Deere, and other industry participants,” May says. “To that end, Deere has accelerated efforts to improve the efficiency and limit the environmental impact of its products.”
May also promoted a new product, called Exact Shot, which was introduced during the Consumer Electronics Show earlier this year.
“Through a combination of the latest sensors and robotics, it applies starter fertilizer precisely to the seed as it is planted at speeds up to 10 miles an hour,” May says. “As a result, farmers can reduce the amount of starter fertilizer used by as much as 60%, while maintaining speeds needed to get the job done on time.”
It marks the third straight year Deere held its annual meeting virtually. May’s speech was pre-recorded and no one appeared “live” on camera.
(By Michelle O’Neill, WVIK, Rock Island)