He's been working on the railroad: the challenge and opportunity of the just-deregulated railroad drew Rob Knight's interest fresh out of college nearly three decades ago. The industry's changes and new developments--from fuel-efficiency to intermodal--continue to keep him motivated.

• Author: Heffes, Ellen M.
• Position: Chief financial officer Rob Knight - Interview

Throughout American history, much has been written about the lure of railroads. Drama surrounded their 19th century beginnings with visions of linking the nation via a transcontinental route that would reduce the time to cross the continent, promote settlement, develop the nation's interior and encourage trade.

In 1862, President Abraham Lincoln signed The Pacific Railroad Act, allowing for construction of the transcontinental. Two companies were chosen to complete the tasks: the Central Pacific Railroad of California and the Union Pacific Co.

Fast forward to the 21st century, when President Barack Obama gave the rails a nod by reviving Lincoln's tradition of traveling by train to Washington, D.C., for his inauguration. Another modern-day person was lured by the railroad, nearly 30 years ago: Rob Knight, the chief financial officer of Union Pacific Corp., signed on with UP fresh out of Kansas State University.

In 1980--with a business degree and concentration in accounting--Knight started his career as an internal auditor, and he's still chugging along, so to speak, with the now $18 billion, 48,000-employee UP.

Railroads as a career choice weren't on the front-burner of everybody's mind back then," says Knight, recalling that energy and other areas of commerce were hot.

But he saw excitement, challenge and opportunity. It was in 1980 that the Staggers Rail Act (signed by President Jimmy Carter) was enacted and the industry was deregulated--a step that "changed the game," Knight notes.

Railroads are critical to commerce in our society, he says. With deregulation, the business was evolving: "the railroad would now have to change and operate like a business and rapidly change the way it would perform and function and think."

The excitement for Knight has continued, as the industry has evolved. "We've had challenges and setbacks along the way," he says, but the environment has continued to provide personal motivation and job satisfaction.

During his 29-year career, Knight has touched a variety of the areas in the business, which he says has given him good perspective: he's run the quality group and the energy business unit; been vice president and general manger of automotive; then moved back to finance and ultimately into the CFO position five years ago.

Thus, he's had general manager responsibilities for two of the firm's six business units, which include agricultural products, automotive, chemicals, energy, industrial products and intermodal (the transport of truck trailers and containers). In those roles, he has dealt with customers, negotiated contracts and was involved in other business decisions.

As CFO, Knight's role goes beyond the finance function of adding up...