Hundreds of people who own John Deere stock will come to the Quad Cities tomorrow. Michelle O'Neill reports the company's annual meeting will be held at World Headquarters in Moline.
Shareholders will elect twelve directors, including the newest one, Alan Heuberger. He's Senior Manager at BMGI, a consulting firm specializing in strategic problem-solving. Shareholders will also vote on other routine items such as Deere and Company's accounting firm and executive compensation.
One stockholder proposal will be on the ballot called, "Right to Act by Written Consent." If approved, it would allow ten percent of Deere shareholders to call for a vote on issues without having to wait for the next annual meeting. Deere opposes the proposal, saying shareholders already have ways to bring issues to the attention of company executives. And it could allow a small group of shareholders to "act in favor of their own proposed actions."
By the way, over the past couple of years, Deere has announced layoffs the day after annual meetings and earnings reports.