UP: Long-time chairman and 47-year veteran Davidson retires; president and CEO Young assumes chairmanship

Beginning tomorrow, Union Pacific Railroad’s Jim Young will join Class I counterparts Matthew Rose, Michael Ward and Wick Moorman as his respective railroad’s chairman, president and chief executive officer. Union Pacific Corp.’s board recently elected Young chairman to succeed 47-year UP veteran Dick Davidson, who retires today after chairing the company the past 10 years.

A 29-year UP veteran, Young has served as president and CEO since January 2006. He previously held various senior management positions, including chief operating officer and chief financial officer.

After joining Missouri Pacific Railroad — which merged with UP in 1982 — in 1960, Davidson rose from brakeman to chairman in 31 years and played a key role in several mergers that transformed the Class I into the nation’s largest railroad. Since 1986, he served stints as vice president of operations, executive vice president, president and CEO.

“Dick’s retirement marks the end of a long and successful career," said Young in a prepared statement. “We all owe Dick a huge debt of gratitude for his leadership and vision in helping create today’s Union Pacific.”