Deere and Company has announced that Samuel R Allen, 55, will become its chief executive officer as from Aug 1, 2009. Current CEO, Robert W Lane, 55, will continue as chairman in the short term until Mr Allen also takes on this role. Commenting on the appointment, Mr Lane said: "The Deere Board has completed an 18-month systematic process to choose Deere's ninth chief executive officer in its 172-year history. The board recognises, as I do, that Sam is a superb, smart, ethical executive, a wise and uncommonly capable leader, and someone with the proven experience and ability to effectively lead John Deere in growing a great, sustainable, global business." Mr Allen has been president of Deere's Worldwide Construction & Forestry Division since 2005 and responsible for the global operations of Deere Power Systems since 2003.