Thread regarding Union Pacific Corp. layoffs

UP Homepage........

Jim Vena new COO...40 years at CN and now to oversee Unified 2020...after Fritz gave an interview saying we didn't need anyone from CSX or wherever else to implement PSR.

"UP Names Jim Vena Chief Operating Officer

Union Pacific today named Jim Vena chief operating officer, effective Jan. 14. He served as executive vice president and chief operating officer at Canadian National (CN) until retiring in June 2016 after a 40-year CN career.

Vena will lead all aspects of UP’s operations, including Unified Plan 2020 implementation, the company’s new operating plan that launched in October 2018. He will report to Lance Fritz, Union Pacific chairman, president and chief executive officer.

“I am thrilled with the way the Operating team has embraced Unified Plan 2020, and the great work our team has been doing rolling it out,” Fritz said. “Adding Jim’s vast knowledge of the precision scheduled railroading model brings significant experience and expertise that will enhance the work already underway.”

During Vena’s tenure as executive vice president and chief operating officer, Canadian National generated the North American rail industry’s best operating ratio and achieved the best safety incident ratio in the company’s history. Vena started his railroad career as a brakeman and held progressively increasing responsibilities in Canadian National’s operations as well as marketing and sales groups, including leading all of CN’s operating regions.

Tom Lischer, Union Pacific’s executive vice president-Operations, and Lynden Tennison, executive vice president and chief strategy officer, will report to Vena. Tennison continues his role as chief information officer, so in the interim the information technology department also reports to Vena.

“Tom, Lynden and their teams have collaborated very well to establish the platform for our early Unified Plan 2020 successes,” Fritz said. “Their roles remain critical, in both the near term and the long term, as we continue implementing Unified Plan 2020 and develop a broader strategic plan to take Union Pacific into the future.”"

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| 4971 views | | 17 replies (last January 20, 2019) | Reply
Post ID: @OP+X0KlQ2m

17 replies (most recent on top)

Matt Rose wouldn’t soil himself messing with UP. BNSF is eating our lunch and treats it’s ops people much better

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Post ID: @dpxc+X0KlQ2m

They need Matt Rose to come over and straighten this outfit up. But of course, our top 3 levels of management would be thrown out on their arrsess for negligence and gross incompetence.

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Post ID: @7ucv+X0KlQ2m

When they highlight brakeman as prior experience it shows he wasnt on theground long in his 40 years.

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Post ID: @2nuh+X0KlQ2m

Vena is receiving $600,000 in base salary with a $750,000 target bonus and the potential to earn a $4 million equity grant should the company hit certain profitability measures.

Susquehanna Financial Group had a similar take on Vena’s appointment, noting that the terms of his employment letter “should provide breathing room to make difficult decisions.”

Started as a brakeman but I guarantee this guy dont give two f---s about front line employees

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Post ID: @2ces+X0KlQ2m

The next 6 months will certainly be interesting to watch. Hopefully Vena knows how to relate to and lead employees much better than Lance.

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Post ID: @1jxj+X0KlQ2m

Lance knows the Operating department relationships have become toxic. He witnessed it five years ago first hand. Time to bring in new blood, new ideas, and remove the stagnation and under qualified management. We need real efficiency, not just efficiency branding.

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Post ID: @1yaz+X0KlQ2m

A takeover perhaps...

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Post ID: @1zsu+X0KlQ2m

Take a look at Vena’s LinkedIn profile and his network. There is a large portion of PSR evangelist in his network that are posturing themselves for a move to UP.

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Post ID: @1gdx+X0KlQ2m

Jim Vena will replace Lance Fritz at some point. Not sure when, or how fast, but the gears are turning for this to happen.

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Post ID: @1xey+X0KlQ2m

Wonder what happened to the article? They just did the 8k filing so maybe they jumped the gun?

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Post ID: @1aad+X0KlQ2m

Yep Fritz did say dint need Psr expertise but believe the board of directors thought otherwise !!

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Post ID: @1cxl+X0KlQ2m

I heard activist investors are raising cash to exhume ehh.

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Post ID: @1rxa+X0KlQ2m

Post EHH executive.

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Post ID: @1emq+X0KlQ2m

But what about Tom, Chad, and Cyndi? Is Grampy Jim the new babysitter?

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Post ID: @1ueh+X0KlQ2m

Funny how cuts have to be made but when it comes to execs. Let’s add more fat and cut the real workers.

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Post ID: @qrm+X0KlQ2m

What a waste.

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Post ID: @lkz+X0KlQ2m

Probably spent what they saved on first round of cuts to bring him out of retirement. Dude hired on with CN in 1977 as a brakeman.

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Post ID: @niz+X0KlQ2m

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