John Deere announced that Brent Norwood, 44, has been promoted to senior vice president and chief financial officer, effective immediately. Norwood brings more than 20 years of experience at Deere and in the financial industry, having served as vice president and finance director for the company’s Construction & Forestry division and John Deere Power Systems since 2023.
Norwood succeeds Ryan Campbell, who had been serving as interim CFO following the resignation of Joshua Jepsen. The promotion signals continuity in financial leadership after a period of transition and underscores the board’s confidence in Norwood’s deep institutional knowledge.
Norwood’s background aligns closely with Deere’s strategic priorities. He has played a key role in shaping the company’s Smart Industrial strategy and Leap Ambitions, and has overseen major acquisitions such as Wirtgen and Blue River Technology. His disciplined approach to capital allocation is expected to support the company’s long‑term value creation goals.
The appointment comes on the heels of Deere’s Q1 2026 earnings, in which the company reported a net income of $656 million, or $2.42 per share, beating analyst expectations of $2.02 per share. Revenue also surpassed estimates, reaching $9.61 billion versus an expected $7.59 billion. The earnings beat was driven by strong demand in core segments and effective cost control, while the revenue beat reflected higher pricing power and a favorable mix of high‑margin products.
"Brent is a proven leader with deep financial expertise, strong strategic judgment, and a disciplined approach to capital allocation. His experience and perspective will be critical as we execute our strategy and deliver long‑term value for our shareholders," said John C. May, Chairman and CEO of Deere & Company.
Market reaction to the announcement was muted, with the company’s share price holding steady at $590.17 on April 30 and $589.87 on May 1, indicating that investors viewed the internal promotion as a sign of stability rather than a catalyst for immediate price movement.
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