Prologis Announces Leadership Transition as Hamid R. Moghadam Retires and Dan Letter Takes the Helm

Prologis Announces Leadership Transition

Prologis, a global leader in logistics real estate, has officially announced a significant change in its leadership structure, with co-founder Hamid R. Moghadam retiring from his role as CEO effective January 1, 2026. Following a remarkable career that spans over forty years, Moghadam will transition to the role of Executive Chairman, where he will continue to guide the company strategically while ensuring continuity in leadership.

In this meticulously planned succession strategy, Dan Letter, who has served as Prologis’ President since 2004, is set to step into the role of CEO. Effective immediately, he will join the company’s Board of Directors. Letter's extensive experience and collaborative approach are expected to steer Prologis through its next chapter of growth, maintaining the company's status as an industry leader.

A Legacy of Leadership

Moghadam's tenure has been transformational for Prologis, starting with the co-founding of its predecessor, AMB Property Corporation, in San Francisco in 1983. Under his stewardship, the company evolved from a mere startup to a powerhouse in global logistics real estate, experiencing a successful IPO in 1997 and a merger with ProLogis in 2011. His unwavering commitment to delivering exceptional value to customers, employees, communities, and investors has laid the foundational principles of Prologis' corporate culture.

Expressing his sentiments on the transition, Moghadam stated, "This transition has been carefully planned to ensure Prologis' continued success. Having worked closely with Dan for over 20 years, I have complete confidence in his leadership. He embodies our values and is committed to the long-term vision of the company.”

Dan Letter: The New Visionary

Dan Letter's qualifications for the CEO role are formidable. Since joining AMB Property Corporation in 2004 as a development manager in Chicago, he has advanced through various roles, ultimately overseeing capital deployment, a critical segment of Prologis’ operations. His previous position allowed him to manage the Investment Committee and lead portfolio acquisitions and dispositions across multiple markets.

With a Bachelor of Science degree in Civil Engineering from Marquette University, Letter's expertise and experience in the logistics domain position him perfectly to lead Prologis into its next phase.

In his statement, Letter expressed enthusiasm for building upon Moghadam's legacy, saying, “Hamid started this company over forty years ago and has taken it to unbelievable heights. Given our scale, role in the supply chain, and disciplined approach to our balance sheet, our future is very bright. I am excited to continue to work with Hamid and the rest of the management team to grow and strengthen the company.”

The Board's Confidence

Irving F. "Bud" Lyons, lead independent director for Prologis' Board of Directors, reflected on Moghadam's contribution, noting, "We are deeply grateful for Hamid's transformative leadership. His 40-plus year journey—from entrepreneurial co-founder to CEO of a significant public enterprise—is a remarkable feat in today’s corporate landscape. We are confident that Dan is the right leader to guide Prologis in its next chapter, demonstrating the strength and continuity of our leadership team."

Looking Forward

As Prologis embarks on this new journey, the company intends to maintain its focus on redefining logistics. Renowned for its innovative approach and unmatched expertise in creating intelligent infrastructure, Prologis is poised to connect the digital and physical worlds seamlessly. With a commitment to sustainable growth and agility in supply chain solutions, the future looks promising for the company as it transitions leadership.

For additional information on Prologis and its strategic vision, visit Prologis.com.