Jim Vena replaces Lance Fritz as chief of Union Pacific

Jim Vena replaces Lance Fritz as chief of Union Pacific

The nation’s second-largest freight railroad firm introduced new management at the moment, as Union Pacific mentioned Jim Vena would step as much as the CEO chair on August 14, changing Lance Fritz after eight years within the nook workplace.

Additionally at the moment, the corporate introduced that Beth Whited, UP’s government vp, sustainability and technique and chief human assets officer, has been appointed as president, reporting to Vena. And Mike McCarthy, UP’s lead impartial director, has been elected as chairman of the board.

Fritz presently holds all three titles of chairman, president, and CEO. However underneath the brand new flowchart, the operations, finance, advertising and gross sales, provide chain, and expertise features will report straight to Vena. Whited’s tasks will embody the technique, workforce assets, sustainability, regulation, company relations, and authorities affairs features.

Vena has greater than 40 years of business expertise and is returning to Union Pacific after serving as its chief working officer from 2019-2020 and as a senior advisor to the chairman in 2021. Earlier than his stint at UP, Vena labored for 4 many years at rival freight agency Canadian Nationwide (CN), the place he began out as a brakeman and labored his approach as much as chief working workplace (COO) and EVP.

Throughout his time on the helm, Fritz led UP by main challenges together with the adoption of “precision railroading” principals in 2018, the covid pandemic in 2020, a threatened labor strike by rail staff that was finally damaged up by Congress and the Biden Administration in 2022, and elevated regulatory scrutiny triggered by the Norfolk Southern derailment and chemical spill in East Palestine, Ohio, in 2023. Following the federal motion forcing staff again on the job, Fritz additionally negotiated a significant contract renewal that granted union calls for for extra predictable schedules and paid sick depart.





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