Deere names Brent Norwood as chief financial officer

MOLINE, Ill. - Deere & Company (NYSE:DE) announced today that its Board of Directors has elected Brent Norwood, 44, as senior vice president and chief financial officer, effective today.

The appointment follows an internal and external search process, according to a press release statement from the company.

Norwood has more than 20 years of experience at Deere and in the financial industry. Since 2023, he has served as vice president and finance director for the company’s Construction and Forestry division and John Deere Power Systems, overseeing financial planning and analysis, forecasting, capital budgeting, and strategic investments.

"Brent is a proven leader with deep financial expertise, strong strategic judgment, and a disciplined approach to capital allocation," said John C. May, chairman and chief executive officer of Deere & Company. "His experience and perspective will be critical as we execute our strategy and deliver long-term value for our shareholders."

Before his recent role, Norwood joined Deere as a program manager and held positions in global marketing operations, corporate business development, and investor relations. He participated in Deere’s acquisitions of Wirtgen and Blue River Technology and contributed to the development of the company’s Smart Industrial strategy and Leap Ambitions initiatives.

Prior to joining Deere, Norwood worked in the investment industry with experience in capital markets, equity research, and principal investing related to mergers and acquisitions, leveraged buyouts, and capital projects.

In other recent news, Deere & Company has been in the spotlight with several significant developments. Truist Securities reiterated a Buy rating for Deere, citing a strong order book, with production slots for key equipment lines such as sprayers, combines, and planters already full for fiscal year 2026. Additionally, the company is taking orders for high-horsepower tractors into the fourth quarter of fiscal 2026 and has rehired 140 workers at its Waterloo plant. Jefferies upgraded Deere’s stock rating to Hold from Underperform, setting a price target of $550, after a notable decline in the company’s shares.

Furthermore, Deere has entered a multi-year sponsorship agreement with Major League Baseball, becoming the official tractor of MLB. This partnership will include marketing efforts across various media platforms, focusing on field maintenance and community care. In another development, President Donald Trump has called on Deere, along with other major equipment manufacturers, to reduce costs for farmers. Meanwhile, DA Davidson reported modest growth in construction equipment sales, slightly exceeding expectations, despite slipping dealer sentiment. These recent developments highlight Deere & Company’s ongoing activities and strategic moves in various sectors.

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