Lance Fritz

Lance M. Fritz is the chairman, president, and chief executive officer of the Union Pacific Corporation, the holding company owning Union Pacific Railroad. He has held the position since October 1, 2015.Union Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/ On February 26, 2023, following pressure from hedge fund Soroban Capital Partners, Union Pacific announced that it would replace Fritz as CEO.CNBC publishing Reuters report, February 26, 2023 updated, Feb. 27, 2023 Union Pacific CEO to step down as hedge fund presses for change Fritz is also a member of the Business Roundtable and the American Association of Railroads.Union Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/
==Education==
Fritz earned his bachelor's degree at Bucknell University. At Kellogg School of Management at Northwestern University, he earned a master's degree in management.Union Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/
==Career==
Prior to holding executive positions at Union Pacific Fritz held positions at Fiskars Inc., Cooper Industries and General Electric.Business Roundtable, 'Lance Fritz,' Accessed March 5, 2023 https://www.businessroundtable.org/about-us/members/lance-m-fritz-chairman-president-and-chief-executive-officer-union-pacific-railroad Fritz began his career at Union Pacific in 2000 as vice president and general manager-energy in Union Pacific.Union Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/ His previous at the railroad was as president and chief operating officer at Union Pacific from 2010 to 2014. Before that, he was vice president of labor relations at Union Pacific.'Transport Topics.' February 6, 2015 https://www.ttnews.com/articles/union-pacific-promotes-lance-fritz-ceoUnion Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/
In Fritz's 2015 promotion to the chief executive officer of Union Pacific, he succeeded John Koraleski, who was named executive chairman of the railroad.'Transport Topics.' February 6, 2015 https://www.ttnews.com/articles/union-pacific-promotes-lance-fritz-ceoUnion Pacific, 'Executive Profiles.' https://www.up.com/aboutup/corporate_info/exec/
On February 26, 2023, hedge fund Soroban wrote a letter calling for CEO Fritz to be replaced. The letter stated in part, “Unlike typical shareholder engagements which come with numerous demands, Soroban has only one ask — install new leadership who can get the trains to operate safely and on time.” Soroban Capitol Capital Partners called for Fritz to be replaced by former Union Pacific chief operating officer Jim Vena to replace Fritz as CEO. Soroban Capital said that it owns an approximately $1.6 billion portion of Union Pacific Corporation stock.CNBC publishing Reuters report, February 26, 2023, updated, Feb. 27, 2023, Union Pacific CEO to step down as hedge fund presses for changeTransportation Topics, February 27, 2023 'Union Pacific Looking for New CEO to Replace Lance Fritz' https://www.ttnews.com/articles/union-pacific-looking-new-ceo-replace-lance-fritz
In the first quarter of 2023 Union Pacific repurchased 2.9 million shares of stock while its debt load increased in the prior six years.Union Pacific News Release, April 20, 2023 https://www.up.com/media/releases/1q23-financial-results-nr-230420.htm#:~:text=Union%20Pacific's%2062.1%25%20operating%20ratio,aggregate%20cost%20of%20%240.6%20billion.Macrotrends Union Pacific Long Term Debt 2010-2023 accessed, August 16, 2023 https://www.macrotrends.net/stocks/charts/UNP/union-pacific/long-term-debt
Fritz was succeeded by Jim Vena as Union Pacific CEO on August 14, 2023. Beth Whited, executive Vice President of Union Pacific, was appointed president.Supply Chain Quarterly, 'Jim Vena replaces Lance Fritz as chief of Union Pacific' July 26, 2023 https://www.supplychainquarterly.com/articles/8530-jim-vena-replaces-lance-fritz-as-chief-of-union-pacific<Union Pacific, 'Executive Profiles' accessed, August 16, 2023 https://www.up.com/aboutup/corporate_info/exec/</ref>
==Writing==
* Lance Fritz, Juan Gallardo Thurlow, and Victor Dodig Feb, 28, 2023 blogpost at Brookings Institute, 'North American business leaders’ perspectives on USMCA opportunities and challenges'
	
* Lacnnce Fritz, February 28, 2023 'North American competitiveness: A team effort'
Category:Bucknell University alumni
Category:Northwestern University alumni
Category:Presidents
Category:Chief executive officers