UP’s chief financial officer to retire NEWSWIRE

OMAHA, Neb. — The dean of railroad chief financial officers, Union Pacific’s Rob Knight, will retire at the end of the year.

UP yesterday named Jennifer Hamann, who currently serves as senior vice president — finance, as Knight’s replacement effective Jan. 1.

Knight, the longest-serving chief financial officer at the Class I railroads, has been UP’s chief financial officer since 2004.

Knight, 62, joined UP in 1980 and as chief financial officer led many initiatives that helped the railroad become the most valuable North American transportation company, significantly reduce its operating ratio, and increase cash from operations, dividends, and return on invested capital, UP says.

Hamann, 52, has been with UP since 1992, when she became a corporate auditor.

“Jennifer’s strong financial knowledge, coupled with her leadership experience in other areas of the business, makes her the best choice as Union Pacific’s next CFO,” CEO Lance Fritz said in a statement. “She has an excellent understanding of our markets and Union Pacific’s key business drivers. The board of directors and I are confident of a smooth transition and excited to have her lead our financial initiatives into the future.”

Hamann becomes the third woman to currently hold an executive vice president position at UP, which has the industry’s most diverse executive team. UP’s chief legal officer and chief human resources officer are also women.

BNSF Railway has two women executive vice presidents; CSX Corp. has one; Norfolk Southern currently has two but will have one after Chief Financial Officer Cindy Earhart retires this fall.

No women are in the executive vice president ranks at Canadian National or Canadian Pacific.