Corporate Governance
At John Deere, our actions are guided by our core values of integrity, quality, commitment and innovation. We are committed to living our values and, through doing so, building a business as great as our products. Throughout its history, our company has earned a reputation for high quality and integrity, and this has been an asset of incalculable value. We strive to live up to these expectations, not just because it is good business, but because it is the right thing to do. Our core values are never to be compromised for immediate success. We aspire to performance that endures, thereby creating the John Deere experience of genuine value for our employees, our customers and our stakeholders.
Learn more about our corporate governance.
Invitation to a Request for Proposal
The Request For Proposal (hereafter “RFP”) is issued on behalf of John Deere Bank S.A. (hereafter “the Bank”), for the purpose of soliciting tenders in connection with the selection of a new external auditor for the statutory audit of the Bank in line with the mandatory audit firm rotation requirements introduced through Directive 2014/56/EU of 16 April 2014 transposed into Luxembourg Law via the “Loi du 23 Juillet 2016 relative à la profession de l’audit”, and the Regulation (EU)537/2014 of 16 April 2014.
The RFP document explains the Bank’s requirements and provides instructions for the preparation of a response by participating Tenderers (i.e. audit firms).
Tenderers will be evaluated against a series of criteria assessing their technical and financial proposals together with oral presentations.
The Bank has mandated Grant Thornton Advisory S.A. (hereafter “Audit Tender Agent”) to manage the RFP, and all communications must be made using the following email address:
JDB-RFP@lu.gt.com
The successful Tenderer will be invited to negotiate the terms of the contract. The first fiscal year to be audited by the new statutory auditor will be the Bank’s fiscal year 2024.
As per confirmed by the CSSF, the audit firms which have already been recognized for the statutory audit of banks are:
- PwC
- KPMG
- Deloitte
- EY
- BDO
- Mazars
RFP milestones
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Uploading the RFP and tenders document to whitelisted Tenderers through the Data Room
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15 November 2021
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Tenderers question phase
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15 - 26 November 2021
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Consolidated answers delivered to Tenderers
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10 December 2021
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Closing of Data Room
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14 December 2021
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Deadline to submit Tenderers offers
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30 December 2021
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Communication of the preselection outcome to Tenderers (shortlist for the beauty contest)
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31 January 2022
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Interviews with shortlisted Tenderers
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28 February to 11 March 2022
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Final decision on the successful Tenderer by the board of directors
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12 July 2022*
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*With regards to the outcome of the RFP process, as referred to above, the Bank together with the Audit Tender Agent prepared a report on the conclusions of the selection procedure, which included the recommendation and preference for one of the Audit Firms. The aforementioned report was discussed and validated by the Audit Committee of the Bank which submitted a recommendation to the Board of Directors. The Audit Committee’s recommendation has been free from influence by a third party and has not been subject to restriction of any kind. Therefore the Bank’s Board of Directors, having been provided with and having had the opportunity to assess the report on the conclusions of the selection procedure and its associated supporting documents, resolved on 12 July 2022 to approve the appointment of KPMG Luxembourg, Société cooperative, 39, Avenue John F. Kennedy, L-1855 Luxembourg, as external auditors of the Bank (Réviseur d'entreprises agree) in accordance with Art. 10 of the Law of 5 April 1993 on the Financial Sector in Luxembourg (as amended) for the period starting the beginning of the fiscal year 2024 and ending at the end of fiscal year 2027.
Data Management at John Deere Bank
John Deere Bank S.A., including its EU branches and subsidiaries, is committed to managing personal data in compliance with applicable data protection laws, such as the Regulation (EU) 2016/679 of April 2016 (General Data Protection Regulation - “GDPR”) and in compliance with the Luxembourg Professional Secrecy.
John Deere Bank - being part of the John Deere group - leverages the competence and knowledge of other John Deere entities and external service providers to ensure we can offer best in class services and products. To that effect, we need to transfer information to other John Deere entities and to external third parties.
Please check your John Deere Financial documents e.g. Loan agreement for more details.