Union Pacific Corp
UNP: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $735.00 | Pklz | Nkmzwybj |
Union Pacific CEO Lance Fritz to Step Down; Railroad Veteran Jim Vena a Potential Replacement
/s3.amazonaws.com/arc-authors/morningstar/064f053d-8b4f-43d1-9844-86633e1e6749.jpg)
Over the weekend, Union Pacific announced that CEO Lance Fritz will step down in 2023; it is actively seeking his replacement. Fritz has been CEO since 2015. It appears the announcement was sparked by pressure from activist investor Soroban Capital, which via a letter called for Fritz's departure (on the grounds of "operating underperformance" in recent years) and suggested that Union Pacific bring back former COO and precision scheduled railroading specialist Jim Vena to take the reins.