MOLINE, Ill. - David Speer, chairman and chief executive officer of Illinois Tool Works Inc., has been elected to the board of directors of Moline-based Deere & Co.

Speer, a 1973 graduate of Iowa State University, will officially join the board Nov. 15, Deere said in a news release.

The Glenview, Ill.-based company employs nearly 60,000 people at 825 business units in 52 countries.

The Deere Board has elected Speer to serve on its compensation and pension plan oversight committees. He will be the 14th member on Deere's board.