Prologis Announces CEO Transition and Board Expansion

Prologis, Inc., a key player in logistics real estate, recently revealed in an 8-K filing dated February 19, 2025, a significant leadership transition within the organization. Hamid R. Moghadam, the Chief Executive Officer and Chairman of the Board, is set to retire from his role as CEO effective January 1, 2026. However, he will continue in an executive capacity as Chairman of the Board to provide vital strategic guidance. Prologis also disclosed that Daniel S. Letter, the current President of the company, will take over as the new Chief Executive Officer upon Moghadam’s retirement in 2026.

The Board of Prologis has made key decisions in light of this transition. They have expanded the size of the Board from eleven directors to twelve, with Mr. Letter being appointed as a director effective February 19, 2025. Prior to his new role, Mr. Letter has been serving as President of Prologis since January 2023, after holding several positions within the company since joining in 2004, including notable roles like Global Head of Capital Deployment and President of specific regions.

In a press release, it was highlighted that Daniel S. Letter, aged 47, with his extensive experience within the organization, is well-prepared to lead Prologis into its next phase of growth. Notably, Mr. Letter has been instrumental in various aspects of the company’s operations, including real estate operations, capital deployment, strategic capital, and Prologis Essentials. It was also mentioned that Mr. Letter is not engaged in any transactions necessitating disclosure under Item 404(a) of Regulation S-K and will not receive additional compensation for his role as a director.

With a focus on maintaining the company’s success and ensuring a smooth leadership transition, Prologis is optimistic about the future under the new leadership structure. The transition plan has been orchestrated to align with the company’s values and long-term vision.

Following this disclosure, Prologis also furnished financial statements and exhibits as part of the filing. Exhibit 99.1 included a draft press release dated February 19, 2025, which detailed the specifics of the leadership transition, emphasizing the strategic and planned nature of the handover.

Prologis, Inc., listed on the New York Stock Exchange under the trading symbol PLD, continues to be a significant player in the logistics real estate domain. The company’s proactive approach to leadership changes indicates a commitment to sustained growth and innovation in the sector. Investors and stakeholders will be closely monitoring the developments at Prologis as it navigates this transition period and looks towards a future guided by a new generation of leadership.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Prologis’s 8K filing here.

Prologis Company Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.