© Reuters. A GE AC4400CW diesel-electric locomotive in Union Pacific livery, is seen ahead of a possible strike if there is no deal with the rail worker unions, as a Metrolink commuter train (right) arrives at Union Station in Los Angeles, California, U.S., Septembe
(Reuters) – U.S. railroad Union Pacific (NYSE:) on Sunday said it expects to name a successor to assume the position of chief executive officer replacing Lance Fritz in 2023.
“Union Pacific has been my home for 22 years and I am confident that now is the right time for Union Pacific’s next leader to take the helm. I look forward to working with the Board as we identify our next CEO to lead the Company into the future,” Fritz said in a statement.
The announcement comes after U.S. hedge fund Soroban Capital Partners in a letter on Sunday called for Fritz to be replaced.
