Union Pacific says it expects to name a new CEO in 2023 after hedge fund called for Lance Fritz to be replaced
A GE AC4400CW diesel-electric locomotive in Union Pacific livery is seen close to Union Station in Los Angeles, California, September 15, 2022.
Bing Guan | Reuters
U.S. railroad Union Pacific on Sunday mentioned it expects to call a successor to imagine the place of chief govt officer changing Lance Fritz in 2023.
“Union Pacific has been my dwelling for 22 years and I’m assured that now could be the proper time for Union Pacific’s subsequent chief to take the helm. I sit up for working with the Board as we establish our subsequent CEO to steer the Firm into the longer term,” Fritz mentioned in a press release.
The announcement comes after U.S. hedge fund Soroban Capital Companions in a letter on Sunday known as for Fritz to get replaced.