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The leadership transition at the Class Is continues. Less than a month after Charles “Wick” Moorman succeeded David Goode as Norfolk Southern Corp.’s chief executive officer and Fred Green succeeded CEO Rob Ritchie as Canadian Pacific Railway’s president, Union Pacific Corp. announced James Young will succeed Dick Davidson as president and CEO, effective Jan. 1. Davidson will continue to serve as chairman and Young, 53, will remain president of Union Pacific Railroad.

Since joining UP in 1978, Young has held a number of positions, including executive vice president and chief financial officer of the corporation, and president and chief operating officer of the railroad. He has served as a board member since February.

Davidson has served as the corporation’s chairman, president and CEO since January 1997. Since joining UP in 1960 as a brakeman/conductor, he has served in a number of positions, including executive vice president of operations and railroad president.

“I know that Jim and his management team will do a great job for our customers and shareholders,” said Davidson in a prepared statement. “As I approach retirement, I know I will be leaving Union Pacific in good hands.”