Union Pacific names CEO Jack Koraleski chairman of the board

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Posted: Thursday, March 20, 2014 12:00 am

Union Pacific Railroad said work has begun on a $4.5million rail line improvement project between Omaha and Missouri Valley, Iowa.

Also Thursday, Union Pacific Corp. said Chief Executive Jack Koraleski has been named chairman of the board, and a new board member has been elected.

The Omaha-based freight railroad said the improvement project is scheduled to be completed by the end of May.

Union Pacific said it plans to replace 31,700 concrete railroad ties and install 16,670 tons of rock ballast. Crews will renew the surfaces at 29 road crossings, U.P. said.

The project is one of nearly 1,500 that Union Pacific said it will complete on its 32,000-mile network this year.

Koraleski, 63, succeeds Jim Young as chairman. Young served as chairman from January 2007 until his death last month.

Koraleski joined Union Pacific in 1972. He was named president and chief executive officer in March 2012 and was elected to the board of directors in July 2012.

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