( ) -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: […]
Audio
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.
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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.