SAN
FRANCISCO, Dec. 21, 2023 /PRNewswire/ -- Prologis,
Inc. (NYSE: PLD) today announced that Vice Chairman Gene Reilly will be retiring at year end, after
which he will serve as a senior advisor through April
2024.
Reilly has played a critical leadership role in almost every
respect of the company's growth and evolution for more than two
decades. He is considered as one of the most knowledgeable global
experts on logistics real estate and, during his career, has
contributed his time and leadership skills to the industry via
trade organizations such as NAIOP, ULI and the Real Estate
Roundtable.
"Gene has been a driving force behind our many M&A
transactions and the subsequent team integration and portfolio
re-positioning efforts," said Prologis Co-Founder, Chairman and CEO
Hamid R. Moghadam. "His influence
has extended to every part of Prologis, especially with our real
estate teams and our focus on customer centricity."
Within Prologis, Reilly is known as a tireless promoter of best
practices in facility design and construction, clear and concise
communication, and innovations such as the Clear Lease, which he
conceived several years ago to leverage the company's growing
scale.
"I am very proud of the company's extraordinary growth over the
past 20 years, but even more proud of the fact we managed this
growth responsibility from a balance sheet perspective and very
intentionally from a cultural perspective," Reilly said. "Prologis
has the best portfolio, customer relationships, public and private
investor relationships, and people in the industry. We will
continue to innovate and grow our offerings to customers, and I am
incredibly optimistic about the future for all of our people and
investors."
ABOUT PROLOGIS
Prologis, Inc. is the global leader in
logistics real estate with a focus on high-barrier, high-growth
markets. At September 30, 2023, 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 (114
million square meters) in 19 countries. Prologis leases modern
logistics facilities to a diverse base of approximately 6,700
customers principally across two major categories:
business-to-business and retail/online fulfillment.
FORWARD-LOOKING STATEMENTS
The
statements in this document that are not historical facts are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are based on current expectations, estimates and
projections about the industry and markets in which we operate as
well as management's beliefs and assumptions. Such statements
involve uncertainties that could significantly impact our financial
results. Words such as "expects" "anticipates," "intends," "plans,"
"believes," "seeks," and "estimates" including variations of such
words and similar expressions are intended to identify such
forward-looking statements, which generally are not historical in
nature. All statements that address operating performance, events
or developments that we expect or anticipate will occur in the
future—including statements relating to rent and occupancy growth,
acquisition and development activity, contribution and disposition
activity, general conditions in the geographic areas where we
operate, our debt, capital structure and financial position, our
ability to earn revenues from co-investment ventures, form new
co-investment ventures and the availability of capital in existing
or new co-investment ventures—are forward-looking statements. These
statements are not guarantees of future performance and involve
certain risks, uncertainties and assumptions that are difficult to
predict. Although we believe the expectations reflected in any
forward-looking statements are based on reasonable assumptions, we
can give no assurance that our expectations will be attained and,
therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements.
Some of the factors that may affect outcomes and results include,
but are not limited to: (i) international, national, regional and
local economic and political climates and conditions; (ii) changes
in global financial markets, interest rates and foreign currency
exchange rates; (iii) increased or unanticipated competition for
our properties; (iv) risks associated with acquisitions,
dispositions and development of properties, including the
integration of the operations of significant real estate
portfolios; (v) maintenance of Real Estate Investment Trust status,
tax structuring and changes in income tax laws and rates; (vi)
availability of financing and capital, the levels of debt that we
maintain and our credit ratings; (vii) risks related to our
investments in our co-investment ventures, including our ability to
establish new co-investment ventures; (viii) risks of doing
business internationally, including currency risks; (ix)
environmental uncertainties, including risks of natural disasters;
(x) risks related to global pandemics; and (xi) those additional
factors discussed in reports filed with the Securities and Exchange
Commission by us under the heading "Risk Factors." We undertake no
duty to update any forward-looking statements appearing in this
document except as may be required by law.
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SOURCE Prologis, Inc.