Union Pacific Names Jim Vena Chief Operating Officer
OMAHA, Neb., Jan. 7, 2019 /PRNewswire/ -- Union Pacific today named Jim Vena chief operating officer, effective Jan. 14. He served as executive vice president and chief operating officer at Canadian National (CN) until retiring in June 2016 after a 40-year CN career.
Vena, 60, will lead all aspects of Union Pacific's operations, including Unified Plan 2020 implementation, the company's new operating plan that launched in October 2018. He will report to Lance Fritz, Union Pacific chairman, president and chief executive officer.
"Unified Plan 2020 combines precision scheduled railroading principles with our own UP Way tools and best practices," Fritz said. "We have been making excellent strides rolling out Unified Plan 2020, and Jim's vast knowledge of the precision scheduled railroading model brings significant experience and expertise that will enhance the work already underway."
During Vena's tenure as executive vice president and chief operating officer, Canadian National generated the North American rail industry's best operating ratio and achieved the best safety incident ratio in the company's history. Vena started his railroad career as a brakeman and held progressively increasing responsibilities in Canadian National's operations as well as marketing and sales groups, including leading all of CN's operating regions.
Tom Lischer, Union Pacific's executive vice president - Operations, and Lynden Tennison, executive vice president and chief strategy officer, will report to Vena.
About Union Pacific
Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2008-2017, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Energy, Industrial and Premium. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
This press release contains statements about the Company's future that are not statements of historical fact, including specifically the statements regarding the Company's expectations with respect to implementing a new operating plan and its ability to improve network performance and customer service. These statements are, or will be, forward-looking statements as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements also generally include, without limitation, information or statements regarding: projections, predictions, expectations, estimates or forecasts as to the Company's and its subsidiaries' business, financial, and operational results, and future economic performance; and management's beliefs, expectations, goals, and objectives and other similar expressions concerning matters that are not historical facts.
Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will be achieved. Forward-looking information, including expectations regarding operational and financial improvements and the Company's future performance or results are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statement. Important factors, including risk factors, could affect the Company's and its subsidiaries' future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements. Information regarding risk factors and other cautionary information are available in the Company's Annual Report on Form 10- K for 2017, which was filed with the SEC on February 9, 2018. The Company updates information regarding risk factors if circumstances require such updates in its periodic reports on Form 10-Q and its subsequent Annual Reports on Form 10-K (or such other reports that may be filed with the SEC).
Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References to our website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein.
SOURCE Union Pacific
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