Salem Radio Network News Friday, March 24, 2023


Union Pacific will replace rail CEO amid hedge fund pressure


( ) -q-25- UNDATED (Correspondent Jeremy House) “for the job.”

Union Pacific has announced plans to replace its CEO later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership.

[CutID: <Cuts> UNION-PACIFIC-CEO-house-q-MONam.mp3
Time: 25s
Title: UNION-PACIFIC-CEO-house-q-MONam
Out-cue: for the job]

TAG: Correspondent Jeremy House reporting. Mandelblatt urged the railroad to hire its former Chief Operations Officer Jim Vena who helped overhaul Union Pacific’s operations several years ago.

VERBATIM: The managing partner of Soroban Capital Partners, Eric Mandelblatt says the Omaha, Nebraska-based railroad has lagged behind its peers during Lance Fritz’ tenure over the last eight years. He adds a leadership change is overdue. However, the railroad’s board recently praised Fritz and said it has been working with a leadership consultant since last year to identify the best candidates for the job.

Editorial Cartoons

View More »

Steve Breen
Wed, Mar 15, 2023