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Union Pacific will replace rail CEO amid hedge fund pressure

FILE - In this image from video, Union Pacific CEO Lance Fritz speaks during an interview at the company's headquarters in Omaha, Neb., on Sept. 9, 2021. Union Pacific announced plans Sunday, Feb. 26, 2023, to replace Fritz later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. (AP Photo/File) FILE - A Union Pacific train travels through Union, Neb., July 31, 2018. Union Pacific announced plans Sunday, Feb. 26, 2023, to replace its CEO, Lance Fritz, later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. (AP Photo/Nati Harnik, File) FILE- Union Pacific Chairman, President, and CEO Lance Fritz smiles after a news conference at the Durham Museum in Omaha, Neb., on Feb. 17, 2017. Union Pacific announced plans Sunday, Feb. 26, 2023, to replace Fritz later this year after a hedge fund that holds a $1.6 billion stake in the railroad went public with its concerns about his leadership. (AP Photo/Nati Harnik, File)
Union Pacific will replace rail CEO amid hedge fund pressure