Summary
Union Pacific Corporation (UNP) announced a significant leadership change in its accounting and finance departments through an 8-K filing on November 16, 2007. Effective January 1, 2008, Jeffrey P. Totusek has been elected as Vice President and Controller of the Company and Chief Accounting Officer and Controller of its principal operating subsidiary, Union Pacific Railroad Company. This appointment marks a succession plan for the top accounting roles. Richard J. Putz, the current holder of these positions, will transition to Vice President – Finance of the Railroad. Mr. Totusek, with a long tenure at Union Pacific since 1985 and extensive experience in various accounting and finance roles, including Assistant Vice President – Financial Analysis since 1998, is well-positioned to assume these new responsibilities.
Key Highlights
- 1Effective January 1, 2008, Jeffrey P. Totusek has been appointed Vice President and Controller of Union Pacific Corporation and Chief Accounting Officer and Controller of Union Pacific Railroad Company.
- 2Richard J. Putz, the incumbent in these roles, will be transitioning to the position of Vice President – Finance of Union Pacific Railroad Company.
- 3Mr. Totusek brings extensive experience, having joined Union Pacific Railroad in 1985 and holding various accounting and finance positions.
- 4Mr. Totusek has served as Assistant Vice President – Financial Analysis for the Railroad since May 1, 1998.
- 5This filing indicates a planned leadership transition within the company's critical financial reporting functions.
- 6The changes are effective at the beginning of the new fiscal year, suggesting a structured handover process.