March 2 Union Pacific Corp's Chief
Executive Officer James Young, 59, is taking a medical leave of
absence for pancreatic cancer treatment, the largest publicly
held U.S. railroad company said on Friday.
John Koraleski, executive vice president of marketing and
sales, will step up as acting president and CEO of the Omaha,
Young will remain chairman of the board during his leave,
which a spokesman said is effectively immediately.
Young, who joined the company in 1978, was elected chairman
in January 2007 and president and CEO in 2005. He is also on the
boards of the FXE Railroad in Mexico, the University of Nebraska
Medical Center, Joslyn Art Museum Foundation, Creighton
University and Boys Town, according to Union Pacific's website.
Koraleski has held his position since 1999 and in that role
has been responsible for the company's six major business units
-- agriculture, chemicals, energy, industrial products and
intermodal -- that account for nearly $16 billion in annual
revenue. He joined the company in 1972.
Union Pacific's shares were up 0.2 percent in early trading
at $111.72 on the New York Stock Exchange and are up 5.5 percent
so far this year. The Dow Jones Transportation average
has risen 3.7 percent in that time.