Deere & Co. said on Friday two top executives plan to retire from the world's largest maker of farm equipment, and it named five others to new positions.

The Moline, Illinois-based company said that Rajesh Kalathur would succeed James Field as chief financial officer, with Field becoming president of its agriculture and turf division for the Americas and Australia. The changes are effective Sept. 1.

Field succeeds David Everitt, who is retiring, as is Senior Vice President and General Counsel James Jenkins.