Jim Vena Takes Over as CEO of Union Pacific, Replacing Lance Fritz

Company CultureHigh Tech / High Touch
Written By Jennifer Joslyn

🏆 Jim Vena Takes Over as CEO of Union Pacific, Replacing Lance Fritz.

Union Pacific, the second-largest freight railroad company in the U.S., has announced a change in its leadership. Jim Vena will take over as CEO on August 14, replacing Lance Fritz, who has been in the role for eight years. Beth Whited, the executive vice president for sustainability and strategy and chief human resources officer, has been appointed as president, reporting to Vena. Mike McCarthy, the lead independent director, will become the chairman of the board. Vena, with over 40 years of industry experience, previously served as Union Pacific's chief operating officer and a senior advisor to the chairman. Fritz led the company through significant challenges, and stock investors have approved of Vena's appointment.

Read more from DCVelocity ▶

Featured
Embracing Work-Life Balance: A CEO's Viral Approach
Embracing Work-Life Balance: A CEO's Viral Approach

The COVID-19 pandemic has pushed companies to prioritize work-life balance, leading to happier, more productive employees.

Gen Z Takes the Workforce by Storm
Gen Z Takes the Workforce by Storm

In 2024, Gen Z workers are set to outnumber baby boomers in the U.S. labor force for the first time.

Panama's New President-Elect Gathers Pro-Business Team
Panama's New President-Elect Gathers Pro-Business Team

Panama's President-elect Jose Raul Mulino has announced his first cabinet selections, emphasizing a pro-business approach.

New Panamanian President-Elect Plans to Boost Canal Resilience and Tourism
New Panamanian President-Elect Plans to Boost Canal Resilience and Tourism

Panama's incoming president, Jose Raul Mulino, intends to tackle the challenges facing the Panama Canal, which is grappling with an unprecedented drought.

Nikola's Legal Drama with EMBR Over Trevor Milton's Involvement
Nikola's Legal Drama with EMBR Over Trevor Milton's Involvement

So, Nikola Corp, the electric-vehicle maker, is in a bit of a legal tussle with EMBR.

Boeing CEO to Step Down by Year-End
Boeing CEO to Step Down by Year-End

Boeing made a sudden move on Monday, shaking up its leadership amidst a significant safety crisis.

Peter Penseel Departs CMA CGM Air Cargo
Peter Penseel Departs CMA CGM Air Cargo

Peter Penseel, a veteran in air logistics, has stepped down as deputy CEO of CMA CGM Air Cargo, leaving the airline without an experienced air freight specialist.

FAA Demands Boeing Overhaul Quality Control After CEO Meeting
FAA Demands Boeing Overhaul Quality Control After CEO Meeting

Boeing faces pressure from the FAA to tackle quality-control issues within 90 days, following a meeting with CEO Dave Calhoun.

Boeing Faces Delivery Decline Amid Safety Concerns
Boeing Faces Delivery Decline Amid Safety Concerns

In January, Boeing saw a decline in aircraft orders and deliveries following a midflight incident involving a fuselage panel on one of its 737 Max 9s.

Key Supply Chain Insights from Foot Locker's COO at Manifest Vegas 2024
Key Supply Chain Insights from Foot Locker's COO at Manifest Vegas 2024

In the ever-evolving world of supply chain management - Elliott Rodgers, EVP and COO at Foot Locker - emphasizes four crucial skills to ensure organizational success: comfort with uncertainty, global awareness, effective communication, and strong leadership.

Former Kansas City Southern CEO Joins J.B. Hunt's Board
Former Kansas City Southern CEO Joins J.B. Hunt's Board

J.B. Hunt Transport Services has welcomed former Kansas City Southern President and CEO Patrick Ottensmeyer to its board, expanding the board to 10 seats.

Costco CEOs Reflect on Unionization Vote in Candid Letter to Employees
Costco CEOs Reflect on Unionization Vote in Candid Letter to Employees

Costco's current and former CEOs, Craig Jelinek and Ron Vachris, responded to a Virginia warehouse's recent unionization vote with a candid letter to employees.

GM Fires Nine Executives at Cruise Following Pedestrian Accident
GM Fires Nine Executives at Cruise Following Pedestrian Accident

General Motors (GM) has fired nine executives at its autonomous vehicle subsidiary, Cruise, following a pedestrian accident in San Francisco.

Sam Altman's Leadership Style Under Scrutiny After Manipulative Tactics and Board Clash at OpenAI
Sam Altman's Leadership Style Under Scrutiny After Manipulative Tactics and Board Clash at OpenAI

In the aftermath of Sam Altman's brief ousting from OpenAI, new insights into his leadership style have emerged.

President Xi Jinping Dines with Top U.S. CEOs Amid Criticism and Controversy
President Xi Jinping Dines with Top U.S. CEOs Amid Criticism and Controversy

China's President Xi Jinping attended a dinner in San Francisco with prominent American CEOs, including Tim Cook of Apple, Elon Musk of Tesla, and Larry Fink of BlackRock, among others.

Anticipating Tense Biden-Xi Meeting Amidst Strained U.S.-China Relations
Anticipating Tense Biden-Xi Meeting Amidst Strained U.S.-China Relations

U.S.-China relations have entered a tense period marked by various issues such as military encounters, diplomatic disputes, and trade tensions, leading up to the in-person meeting between President Joe Biden and China's President Xi Jinping.

WeWork's Co-Founder Adam Neumann Expresses Disappointment Over Chapter 11 Filing, Envisions Reorganization for Success
WeWork's Co-Founder Adam Neumann Expresses Disappointment Over Chapter 11 Filing, Envisions Reorganization for Success

WeWork co-founder and former CEO Adam Neumann expressed disappointment over the company's Chapter 11 bankruptcy filing, stating his belief that with the right strategy and team, a reorganization could lead to success.

Citigroup Contemplates 10% Job Cuts in Major Business Units in CEO's Restructuring Drive
Citigroup Contemplates 10% Job Cuts in Major Business Units in CEO's Restructuring Drive

Citigroup is reportedly considering job cuts of at least 10% in several major business units as part of CEO Jane Fraser's reorganization efforts.

Amazon Allows Supervisors to Terminate Employees Resisting Return-to-Office Policy
Amazon Allows Supervisors to Terminate Employees Resisting Return-to-Office Policy

Amazon has introduced new guidelines allowing supervisors to terminate employees who resist the return-to-office directive.

Costco CEO Craig Jelinek to Retire, Ron Vachris to Take Helm
Costco CEO Craig Jelinek to Retire, Ron Vachris to Take Helm

Longtime Costco CEO Craig Jelinek will retire at the end of the year, and he will be succeeded by Ron Vachris, who has been with the company for 40 years.

JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation
JP Morgan CEO Jamie Dimon Warns of Global Impact Amid Middle East Conflict Escalation

JP Morgan's CEO, Jamie Dimon, has expressed concerns about the escalating conflict in the Middle East, particularly Israel's expected ground offensive on Gaza.

USS Jack H. Lucas, An Advanced Arleigh Burke-Class Destroyer Honors WWII Hero
USS Jack H. Lucas, An Advanced Arleigh Burke-Class Destroyer Honors WWII Hero

The U.S. Navy has commissioned the USS Jack H. Lucas, the first of the Flight III sub-class of Arleigh Burke-class guided-missile destroyers, featuring advanced upgrades.

Lynn Fritz, CEO of Fritz Companies, Honored in Supply Chain Hall of Fame
Lynn Fritz, CEO of Fritz Companies, Honored in Supply Chain Hall of Fame

Lynn Fritz, Chairman and CEO of Fritz Companies, has received the 2023 Supply Chain Hall of Fame Inductee award from the Council of Supply Chain Management Professionals (CSCMP).

BlackRock CEO Larry Fink Expresses Concern Over Lack of Hope Amidst High Levels of Fear in Financial Markets
BlackRock CEO Larry Fink Expresses Concern Over Lack of Hope Amidst High Levels of Fear in Financial Markets

BlackRock CEO Larry Fink, a prominent figure on Wall Street, has expressed concern over the high levels of fear he's witnessing among consumers and businesses, which he says is missing the essential ingredient of hope for a healthy financial outlook.

GM President Mark Reuss Challenges UAW Rhetoric Amidst Ongoing Strikes
GM President Mark Reuss Challenges UAW Rhetoric Amidst Ongoing Strikes

General Motors (GM) President Mark Reuss has criticized the United Auto Workers (UAW) union for its rhetoric and the spread of "misinformation" during ongoing contract negotiations, as the UAW enters day six of targeted strikes against Detroit automakers.

Fashion Execs Anticipate Further Sourcing Reductions from China in 2023
Fashion Execs Anticipate Further Sourcing Reductions from China in 2023

According to the U.S. Fashion Industry Association's latest industry survey, nearly 80% of fashion executives intend to decrease their sourcing from China over the next two years.

Why Should CEOs Earn 300 Times More Than Their Workers?
Why Should CEOs Earn 300 Times More Than Their Workers?

The United Auto Workers (UAW) is demanding a 40% raise for its members over the next four years, matching the 40% compensation increase that CEOs of major automakers have received during the same period.

Jim Vena Takes Over as CEO of Union Pacific, Replacing Lance Fritz
Jim Vena Takes Over as CEO of Union Pacific, Replacing Lance Fritz

Union Pacific, the second-largest freight railroad company in the U.S., has announced a change in its leadership.

Fostering Diversity is the Key to Success in Transportation, Logistics, and Equipment Finance Industries
Fostering Diversity is the Key to Success in Transportation, Logistics, and Equipment Finance Industries

Diversity in hiring is crucial for transportation, logistics, and equipment finance organizations.

Remote Employees Work Longer and More Diligently
Remote Employees Work Longer and More Diligently

The COVID-19 pandemic forced a massive shift to remote work, leading to a surprising revelation that remote employees are not slackers but, in fact, work slightly longer hours than their office-based counterparts.

Jennifer Joslyn
Previous

Pentagon Initiates Search for Chip-Mineral Gallium as China Restricts Export Access
Next

Fire Continues to Blaze on Car-Carrying Cargo Ship Near Dutch Bird Sanctuary