DEARBORN – Ford Motor Co. has added to its board of directors John May, CEO of Deere & Co., and analysts say that move illustrates the automaker’s commitment to new technology in the cutthroat race toward electric and autonomous vehicle dominance.
The fact that Deere just resolved a six-week UAW strike, its first in 35 years, is “icing on the cake,” said industry observer John McElroy, host of “Autoline After Hours” podcast and webcast.
“Deere has pioneered some of the first, if not the first, autonomous tractors,” he said. “They’re adept at bringing new technology into agriculture equipment that competes on a global basis. Deere dominates the segment. And companies like to have winners on the board. If you’re a global manufacturer that’s moving into high tech, like Ford, you want a board member who has that experience under their belt.”
The Moline, Illinois-based agricultural and construction equipment company already broke a record profit of $3.5 billion set in 2013 with three months left to go this year despite supply chain challenges.
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