Union Pacific Corporation (NYSE: UNP) ("Union Pacific" or the "Company") today announced that it has appointed Doyle Simons, former president and CEO of Weyerhaeuser, and John Wiehoff, former chairman, president, and CEO of C.H. Robinson, to its Board of Directors, effective immediately.

"The additions of Doyle and John are a continuation of the Board's ongoing refreshment process to ensure we have the right mix of skills and expertise to advance the company's strategic and operational objectives," said Mike McCarthy, Lead Independent Director of the Board. "Both new directors bring impressive track records leading public companies as chief executives, serving on public company Boards, and experience partnering with Union Pacific. We look forward to their contributions as we collectively focus on enhancing value for all of our stakeholders."

Simons said, "Strong customer relationships are a foundation to Union Pacific's success, and I am excited to leverage my experience working with customers around the world to help support this team as we guide Union Pacific into the future. Years as a customer of Union Pacific has taught me their values and how important it is to run a safe and reliable railroad."

"Union Pacific serves a critical role in supporting communities by delivering goods for use every day, and I am honored to join the Company's board," said Wiehoff. "I know the Union Pacific team is an incredibly talented group of railroaders, and I look forward to leveraging my background overseeing a global transportation and logistics organization to contribute to the Company's continued success."

As part of its ongoing refreshment efforts and continued focus on actively overseeing the Company, the Board has also formed a new Safety and Service Quality committee, which will have responsibility for reviewing, evaluating, and monitoring compliance with safety programs and providing oversight of the Company's service performance. Director Jane Lute has been appointed to lead this new committee. In addition, Director Sheri Edison has been appointed as Chair of the Corporate Governance, Nominating and Sustainability Committee, effective August 14, 2023.

Following the appointments of Simons and Wiehoff, the Board now comprises 12 directors, 11 of whom are independent and 4 of whom have been added since 2021.

In a separate press release issued today, Union Pacific announced Jim Vena has been appointed chief executive officer and as a member of the Board, Beth Whited has been appointed president and McCarthy will assume the role of chairman of the Board. These leadership changes are effective August 14, 2023, and follow Lance Fritz stepping down as chairman, president and chief executive officer.