Article at a glance:

Leading change: An interview with the CEO of Deere & Company

• In 2000 a leading market position masked underlying problems at agricultural equipment maker Deere & Company, according to CEO Robert W. Lane.
• Deere was "asset heavy and margin lean." Its products barely returned their cost of capital at the top of the cycle and dissipated economic profit at the bottom.
• Lane's remedy—an ambitious plan to manage assets more efficiently, cut costs, and focus the company's attention on creating shareholder value—has thus far been remarkably successful.
• In this interview, Lane speaks about the role that incentives, communication, and sequencing have played in the changes at Deere; the effect on Deere's culture; and the challenges that remain.