Prologis Appoints Three New Leaders to Administration Workforce; Declares Anderson Retirement | November 15, 2023

Andrus to develop into chief working officer; Ghazal to develop into chief funding officer; Uthayakumar to affix Government Committee

SAN FRANCISCO, Nov. 15, 2023 /PRNewswire/ — Prologis, the worldwide chief in logistics actual property, in the present day introduced three new appointments to its Government Committee – Carter Andrus as chief working officer (COO), Joseph Ghazal as chief funding officer (CIO) and Susan Uthayakumar, the corporate’s present chief power and sustainability officer efficient January 1, 2024. As a part of the corporate’s long-term and ongoing succession planning, it additionally introduced that Gary Anderson, the present COO, will transfer to a brand new position as senior advisor efficient January 1, 2024, and retire on June 30, 2024.

Andrus will develop into the corporate’s new chief working officer and be a part of the Government Committee. On this new position, he’ll lead the corporate’s international actual property group. Andrus joined Prologis in 2008 and has held quite a lot of management roles on the market, regional and international degree. Most just lately, he served as international head of operations. Previous to becoming a member of Prologis, Andrus was a senior vp at Colliers.

Ghazal will tackle the position of chief funding officer and be a part of the Government Committee, main all the firm’s international capital deployment technique and execution in addition to the Funding Committee. With greater than 20 years of tenure at Prologis, Ghazal brings deep capital deployment and management expertise to the CIO position. The corporate’s international building operation can even report into him.

Uthayakumar will proceed in her position as chief power and sustainability officer and can be a part of the Government Committee. Uthayakumar joined Prologis in January 2022 and led the event of the corporate’s internet zero technique, extending its management place in sustainability whereas accelerating Prologis’ rising renewable power enterprise. Beforehand, she was president of Schneider Electrical’s Sustainability Enterprise Division. All three will report back to Dan Letter, Prologis’ international president.

“All three leaders convey large expertise and imaginative and prescient to their new roles,” mentioned Hamid R. Moghadam, co-founder, chairman and CEO of Prologis. “As we proceed to develop and evolve as an organization, we’re placing new leaders in key roles who will assist allow our continued development, scale and expertise acquisition. Carter, Joseph and Susan are thrilling new additions to our senior administration workforce.”

Anderson served as Prologis’ COO since 2019, the place he led Prologis key enterprise initiatives, together with Prologis Necessities, operational excellence, procurement and extra. He additionally has been a driver of the modifications the corporate made to undertake a customer-centric mindset and data-driven method all through Prologis. As a member of the senior administration workforce, Anderson has been a major power in setting the corporate’s strategic route and our deal with innovation.

“With practically 30 years at Prologis, Gary has served in important management roles in Europe, Asia, Mexico and the U.S.,” mentioned Moghadam. “He has been extremely influential on the evolution of our strategic capital enterprise, our growth into non-real property companies via our Necessities platform, and our organization-wide dedication to operational excellence and innovation. We’re lucky to have him with us as a senior advisor earlier than he retires subsequent yr.”

“I am grateful for the number of alternatives Prologis has afforded me over an nearly 30-year profession and am tremendously proud to be a part of the enterprise that our gifted international colleagues have collectively constructed over that interval,” mentioned Anderson. “I’m extra optimistic in regards to the firm’s prospects in the present day than at any level in my tenure.”

Prologis, Inc. is the worldwide chief in logistics actual property with a deal with high-barrier, high-growth markets. At September 30, 2023, the corporate owned or had investments in, on an entirely owned foundation or via co-investment ventures, properties and improvement tasks anticipated to complete roughly 1.2 billion sq. ft (114 million sq. meters) in 19 nations. Prologis leases fashionable logistics services to a various base of roughly 6,700 prospects principally throughout two main classes: business-to-business and retail/on-line achievement.

The statements on this doc that aren’t historic info are forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These forward-looking statements are primarily based on present expectations, estimates and projections in regards to the trade and markets during which we function in addition to administration’s beliefs and assumptions. Such statements contain uncertainties that would considerably influence our monetary outcomes. Phrases similar to “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” and “estimates” together with variations of such phrases and comparable expressions are meant to establish such forward-looking statements, which usually will not be historic in nature. All statements that tackle working efficiency, occasions or developments that we anticipate or anticipate will happen sooner or later—together with statements regarding hire and occupancy development, acquisition and improvement exercise, contribution and disposition exercise, common circumstances within the geographic areas the place we function, our debt, capital construction and monetary place, our means to earn revenues from co-investment ventures, kind new co-investment ventures and the provision of capital in current or new co-investment ventures—are forward-looking statements. These statements will not be ensures of future efficiency and contain sure dangers, uncertainties and assumptions which are troublesome to foretell. Though we imagine the expectations mirrored in any forward-looking statements are primarily based on cheap assumptions, we can provide no assurance that our expectations will probably be attained and, due to this fact, precise outcomes and outcomes could differ materially from what’s expressed or forecasted in such forward-looking statements. Among the components that will have an effect on outcomes and outcomes embrace, however will not be restricted to: (i) worldwide, nationwide, regional and native financial and political climates and circumstances; (ii) modifications in international monetary markets, rates of interest and international forex alternate charges; (iii) elevated or unanticipated competitors for our properties; (iv) dangers related to acquisitions, tendencies and improvement of properties, together with the combination of the operations of great actual property portfolios; (v) upkeep of Actual Property Funding Belief standing, tax structuring and modifications in earnings tax legal guidelines and charges; (vi) availability of financing and capital, the degrees of debt that we preserve and our credit score scores; (vii) dangers associated to our investments in our co-investment ventures, together with our means to ascertain new co-investment ventures; (viii) dangers of doing enterprise internationally, together with forex dangers; (ix) environmental uncertainties, together with dangers of pure disasters; (x) dangers associated to international pandemics; and (xi) these extra components mentioned in studies filed with the Securities and Alternate Fee by us beneath the heading “Danger Components.” We undertake no responsibility to replace any forward-looking statements showing on this doc besides as could also be required by regulation.

Joseph Ghazal, chief investment officer (CIO), effective January 1, 2024


SOURCE Prologis, Inc.

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