8-KLeadership ChangesRegulation FDExhibits & Filings

UNION PACIFIC CORP 8-K Report, Executive Changes (Jul 30, 2015)

Filed July 30, 2015For Securities:UNP

Summary

Union Pacific Corporation (UNP) announced a significant leadership transition through an 8-K filing on July 30, 2015. The key development is the election of Lance M. Fritz, currently President and CEO, to the role of Chairman of the Board, effective October 1, 2015. This move follows the planned retirement of the current Chairman, John J. Koraleski. Mr. Fritz will not receive additional compensation for this expanded role, aligning with company policy for employee board chairmen. In addition to the Chairman transition, the company also announced the appointment of Todd M. Rynaski as Vice President and Controller of the Company and Chief Accounting Officer and Controller of the Railroad, effective September 1, 2015. He succeeds Jeffrey P. Totusek, who will transition to a Vice President - Finance role until his retirement in 2016. These appointments signal a planned succession and ongoing management evolution within the company.

Key Highlights

  • 1Lance M. Fritz, current President and CEO, appointed Chairman of the Board effective October 1, 2015.
  • 2Current Chairman, John J. Koraleski, to retire on September 30, 2015.
  • 3Lance M. Fritz will not receive additional compensation for his new Chairman role.
  • 4Todd M. Rynaski appointed Vice President and Controller of the Company and Chief Accounting Officer and Controller of the Railroad, effective September 1, 2015.
  • 5Current Vice President and Controller, Jeffrey P. Totusek, to transition to Vice President - Finance role until his 2016 retirement.
  • 6The filing includes a press release dated July 30, 2015, as an exhibit detailing these announcements.

Frequently Asked Questions

The primary changes involve Lance M. Fritz moving from President and CEO to Chairman of the Board, and Todd M. Rynaski being appointed as the new Vice President and Controller.

No, as an employee of the company, Mr. Fritz will not receive any additional compensation for serving as Chairman of the Board, in accordance with company policy.

Mr. Koraleski is retiring as Chairman of the Board on September 30, 2015.

Jeffrey P. Totusek, the current Vice President and Controller, will retire in 2016. Todd M. Rynaski will take over the role of Vice President and Controller effective September 1, 2015, and Mr. Totusek will remain with the company as Vice President - Finance to aid in the transition.