Prologis Co-Founder, Longtime CEO Hamid Moghadam to Retire

Dow Jones

2025/02/19

By Sarina Isaacs

Prologis said its founder and longtime chief executive, Hamid Moghadam, will retire effective Jan. 1, 2026, to be succeeded by Dan Letter, current president.

The San Francisco-based firm on Wednesday said Moghadam--who has helmed the company and its predecessor, AMB Property, for more than four decades--will stay on as executive chairman to provide strategic guidance.

Letter will immediately join the Prologis board of directors and succeed Moghadam upon his departure from the CEO role, said the company.

Letter, who has been with the logistics real-estate company since 2004, currently runs most of Prologis's business lines, the company said, including global real estate operations, capital deployment and strategic capital.

Moghadam in 2023 earned a total of about $50.9 million in compensation, most of it in stock awards, according to a filing with the Securities and Exchange Commission.

Write to Sarina Isaacs at sarina.isaacs@wsj.com

(END) Dow Jones Newswires

February 19, 2025 10:01 ET (15:01 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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