Union Pacific’s Fritz to Become Chairman on Oct. 1
Fritz, whose background includes rail operations, marketing and labor relations, was appointed president and CEO in February. Koraleski preceded Fritz in both of those posts as well, serving as president and CEO for nearly three years at Union Pacific, of Omaha, Nebraska, where truck/rail is a $4.5 billion annual business, accounting for 20% of freight revenue.
“Lance has demonstrated the leadership skills and vision necessary to create value for all of our stakeholders,” Steven Rogel, Union Pacific's lead independent director, said in a statement. “Following a thorough review of our governance structure, we determined that now is the right time for Lance to become chairman.”
“On behalf of the entire board, I want to express our sincere thanks to Jack for his leadership, dedication, and contributions,” Rogel added.
