Union Pacific Corp. named Lance M. Fritz as president and chief operating officer of its Omaha-based railroad Thursday and said Jim Young has retired from his executive duties.
Young took a leave of absence in March 2012 to undergo treatments for pancreatic cancer. Union Pacific said he retired Jan. 31 but will continue as non-executive chairman of the parent corporation. He had been president, chairman and chief executive officer of Union Pacific since 2007.
Fritz, 51, will report to Jack Koraleski, CEO of the railroad and president and CEO of Union Pacific Corp.
Fritz joined Union Pacific in 2000 as vice president and general manager of its energy group. He was named regional vice president for operations in 2006 and executive vice president for operations in 2010. Cameron A. Scott, who joined the railroad in 1991, succeeds him in that job.
Fritz is a graduate of Bucknell University and Northwestern University and worked for Fiskars Inc., Cooper Industries and General Electric before joining Union Pacific. He is a board member of United Way of the Midlands and a past board member of Girl Scouts Spirit of Nebraska and was program chairman for the 2013 U.S. Senior Open.