Deere names new CFO in second rejig in three months

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Kalathur will continue as president of Deere’s financial unit, Deere said in a statement.

Jepsen, who assumed the duties of deputy financial officer at Deere earlier this year, joined the company as an intern in 1999. He will receive an annual base salary of $850,000, Deere said in a filing.

Deere earlier last month lowered its full-year profit outlook as it struggled to make enough tractors amid high costs and a shortage of parts.