Union Pacific Surges Most Since 2009 as COO Hiring Dazzles
- Railroad appoints Hunter Harrison protege to oversee revamp
- Move gives ‘more confidence’ in efficiency strategy: Cowen
A Union Pacific Corp. freight train passes by an oil refinery in Roxana, Illinois.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Union Pacific Corp. surged the most since 2009 after hiring a protege of railroading legend Hunter Harrison to guide the company’s shift to a new efficiency strategy.
Jim Vena, 60, will become chief operating officer on Jan. 14 and oversee the implementation of precision scheduled railroading, a system pioneered by Harrison and adopted by Union Pacific late last year. Vena retired in June 2016 after a 40-year career at Canadian National Railway Co., Union Pacific said.