Shares of Union Pacific Corp. UNP shot up 8.8% toward an 11-month high in premarket trading Wednesday, after the railroad operator reported a second-quarter revenue miss amid softening consumer markets and higher labor costs, but said Chief Executive Lance Fritz is stepping down after more than eight years in the role. The company named Jim Vena as its new CEO, effective Aug. 14. Vena is returning to the railroad operator after serving as chief operation officer from 2019 to 2020.
8% toward an 11-month high in premarket trading Wednesday, after the railroad operator reported a second-quarter revenue miss amid softening consumer markets and higher labor costs, but said Chief Executive Lance Fritz is stepping down after more than eight years in the role. The company named Jim Vena as its new CEO, effective Aug. 14. Vena is returning to the railroad operator after serving as chief operation officer from 2019 to 2020. The company reported net income that fell to $1.
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