OMAHA,
Neb., July 26, 2023 /PRNewswire/ -- Union
Pacific Corporation (NYSE: UNP) ("Union Pacific" or the "Company")
today announced that it has appointed Doyle
Simons, former president and CEO of Weyerhaeuser, and
John Wiehoff, former chairman,
president, and CEO of C.H. Robinson, to its Board of
Directors, effective immediately.
"The additions of Doyle and John are a continuation of
the Board's ongoing refreshment process to ensure we have the right
mix of skills and expertise to advance the company's strategic and
operational objectives," said Mike
McCarthy, Lead Independent Director of the Board. "Both new
directors bring impressive track records leading public companies
as chief executives, serving on public company Boards, and
experience partnering with Union Pacific. We look forward to
their contributions as we collectively focus on
enhancing value for all of our stakeholders."
Simons said, "Strong customer relationships are a
foundation to Union Pacific's success, and I am excited to leverage
my experience working with customers around the world to help
support this team as we guide Union Pacific into the future. Years
as a customer of Union Pacific has taught me their values and how
important it is to run a safe and reliable railroad."
"Union Pacific serves a critical role in supporting communities
by delivering goods for use every day, and I am honored to join the
Company's board," said Wiehoff. "I know the Union Pacific team is
an incredibly talented group of railroaders, and I look forward to
leveraging my background overseeing a global transportation and
logistics organization to contribute to the Company's continued
success."
As part of its ongoing refreshment efforts and continued focus
on actively overseeing the Company, the Board has also formed a new
Safety and Service Quality committee, which will have
responsibility for reviewing, evaluating, and monitoring compliance
with safety programs and providing oversight of the Company's
service performance. Director Jane
Lute has been appointed to lead this new committee. In
addition, Director Sheri Edison has
been appointed as Chair of the Corporate Governance, Nominating and
Sustainability Committee, effective August
14, 2023.
Following the appointments of Simons and Wiehoff, the Board now
comprises 12 directors, 11 of whom are independent and 4 of whom
have been added since 2021.
In a separate press release issued today, Union Pacific
announced Jim Vena has been
appointed chief executive officer and as a member of the Board,
Beth Whited has been appointed
president and McCarthy will assume the role of chairman of the
Board. These leadership changes are effective August 14, 2023, and follow Lance Fritz stepping down as chairman, president
and chief executive officer.
About Doyle Simons
Simons served as President, Chief Executive Officer at
Weyerhaeuser Company, a global producer of wood-related products
and pioneer of sustainable tree farms, from 2013 until 2019. Prior
to joining Weyerhaeuser Company, he held a variety of high-level
leadership roles from 1992 to 2012 at Temple-Inland, Inc.,
including as Chairman and Chief Executive Officer from 2008 to
2012. Simons has served on the Board of Directors at Fiserv, Inc.,
a provider of financial services technology, as Lead Independent
Director since 2022 and as a director since 2007, and on the Board
of Directors at Iron Mountain Incorporated, an information storage
services company, since 2020. He previously served as a director at
Weyerhaeuser Company from 2012 to 2019. Simons holds a Bachelor of
Business Administration at Baylor
University and a juris doctor from the University of Texas.
About John
Wiehoff
Wiehoff most recently served as the Executive Chairman of C.H.
Robinson Worldwide, a leading third-party logistics, supply chain
management and sourcing company from 2007 to 2020 and was Chief
Executive Officer of the company from 2002 to 2019. He previously
held multiple leadership roles at C.H. Robinson, including President and Chief
Financial Officer. Mr. Wiehoff began his career at Arthur Andersen
LLP. Wiehoff has served as the Chair of the Board of Directors of
Polaris, a powersports-vehicle manufacturing company, from 2021 and
has been a director at Polaris since 2007. He also has served on
the Board of U.S. Bancorp, a financial services company, since
2020. He previously served on the Board of Donaldson Company, Inc.,
an air filtration manufacturing company, from 2003 to 2022. Wiehoff
holds a Bachelor of Science in accounting from St. John's University.
ABOUT UNION PACIFIC
Union Pacific (NYSE: UNP) delivers the goods families and
businesses use every day with safe, reliable, and efficient
service. Operating in 23 western states, the company connects its
customers and communities to the global economy. Trains are the
most environmentally responsible way to move freight, helping Union
Pacific protect future generations. More information about Union
Pacific is available at www.up.com.
Supplemental financial information is
attached.
This news release and related materials contain statements
about the Company's future that are not statements of historical
fact, including specifically the statements regarding the potential
impacts of public health crises, including pandemics, epidemics
and the outbreak of other contagious diseases, such as the
coronavirus and its variant strains (COVID); the Russia-Ukraine conflict and its impact on our
business operations, financial results, liquidity, and financial
position, and on the world economy (including customers, employees,
and supply chains), including as a result of fluctuations in volume
and carloadings; expectations as to general macroeconomic
conditions, including slowdowns and recessions,
domestically or internationally, and future
volatility in interest rates and fuel prices; closing of customer
manufacturing, distribution, or production facilities; expectations
as to operational or service improvements; expectations as to
hiring challenges; availability of employees; expectations
regarding the effectiveness of steps taken or to be taken to
improve operations, service, infrastructure improvements, and
transportation plan modifications; expectations as to cost savings,
revenue growth, and earnings; the time by which goals, targets, or
objectives will be achieved; projections, predictions,
expectations, estimates, or forecasts as to business, financial,
and operational results, future economic performance, and planned
capital investments ; proposed new products and services; estimates
of costs relating to environmental remediation and restoration;
estimates and expectations regarding tax matters; expectations that
claims, litigation, environmental costs, commitments, contingent
liabilities, labor negotiations or agreements, cyberattacks or
other matters. These statements are, or will be,
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements also generally include,
without limitation, information, or statements regarding:
projections, predictions, expectations, estimates, or forecasts as
to the Company's and its subsidiaries' business, financial, and
operational results, and future economic performance; and
management's beliefs, expectations, goals, and objectives and other
similar expressions concerning matters that are not historical
facts.
Forward-looking statements should not be read as a
guarantee of future performance or results and will not necessarily
be accurate indications of the times that, or by which, such
performance or results will be achieved. Forward-looking
information, including expectations regarding operational and
financial improvements and the Company's future performance or
results are subject to risks and uncertainties that could cause
actual performance or results to differ materially from those
expressed in the statement. Important factors, including risk
factors, could affect the Company's and its subsidiaries' future
results and could cause those results or other outcomes to differ
materially from those expressed or implied in the forward-looking
statements. Information regarding risk factors and other cautionary
information are available in the Company's Annual Report on Form
10-K for 2022, which was filed with the SEC on February 10, 2023. The Company updates
information regarding risk factors if circumstances require such
updates in its periodic reports on Form 10-Q and its subsequent
Annual Reports on Form 10-K (or such other reports that may be
filed with the SEC).
Forward-looking statements speak only as of, and are based
only upon information available on, the date the statements were
made. The Company assumes no obligation to update forward-looking
information to reflect actual results, changes in assumptions, or
changes in other factors affecting forward-looking information. If
the Company does update one or more forward-looking statements, no
inference should be drawn that the Company will make additional
updates with respect thereto or with respect to other
forward-looking statements. References to the Company's website are
provided for convenience and, therefore, information on or
available through the website is not, and should not be deemed to
be, incorporated by reference herein.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/union-pacific-appoints-doyle-simons-and-john-wiehoff-to-board-of-directors-301886159.html
SOURCE Union Pacific Corporation