union_pacific_logoUnion Pacific Railroad’s board yesterday elected Lance Fritz chairman, president and chief executive officer effective Oct. 1. As chairman, Fritz will succeed Jack Koraleski, who plans to retire Sept. 30.

Fritz was elected UP’s president and CEO, and to the board, on Feb. 5. A year earlier, he was named president and chief operating officer. He previously served as executive vice president-operations, VP-labor relations, regional VP of the southern region and regional VP of the northern region. Fritz began his career at UP in July 2000 in marketing and sales as VP and general manager-energy, according to a company press release.

When Koraleski retires in fall, he will conclude a 43-year career at the Class I, in which he served as executive chairman; chairman, president and CEO; executive VP-marketing and sales; and executive VP-finance and information technology.

Read more from Progressive Railroading