FIBRA Prologis Welcomes New Members to its Technical Committee for Enhanced Leadership

Major Changes in FIBRA Prologis Technical Committee

FIBRA Prologis, a prominent owner and operator of Class-A industrial real estate in Mexico, has recently announced strategic appointments to its Technical Committee. This move is seen as a significant step in enhancing the organization's leadership and governance as it navigates the dynamic landscape of real estate investment.

Effective immediately, Deborah Briones, who serves as the Chief Legal Officer and General Counsel of Prologis, Inc., has been appointed as a non-independent member of the Technical Committee. Joining her are Carter Andrus, the Chief Operating Officer of Prologis, and Joseph Ghazal, Chief Investment Officer of Prologis, bringing additional industry experience and expertise to the committee.

The structure of the Technical Committee now includes five non-independent members and six independent members, which reflects FIBRA Prologis’ commitment to a balanced approach in governance. Current members of the committee include notable figures such as Alberto Saavedra, who leads among the independent members, and Armando Fregozo, enhancing the committee's capability to guide the company through its latest initiatives.

Héctor Ibarzabal, CEO of FIBRA Prologis, expressed gratitude towards Luis Gutierrez, the outgoing Chairman, and Dan Letter, who has also stepped down from the committee. He acknowledged their critical contributions to the company's growth over the past year, stating, "Luis and Dan played a pivotal role in the success of our company’s evolution, and we are thankful for their service."

FIBRA Prologis has established itself as a key player in the Mexican industrial real estate market, with a portfolio encompassing 514 logistics and manufacturing facilities across six major industrial markets. By September 30, 2024, the company reported an impressive total of 89.5 million square feet of gross leasable area, which underscores its leading position in the sector.

The recent changes in the Technical Committee are perceived as a proactive measure to adapt to the evolving market challenges and opportunities. The appointments bring in diversified perspectives and rich experiences, especially from leadership roles at Prologis, a well-regarded entity within the real estate community.

These leadership transitions come at a time when the industrial real estate sector is experiencing changes influenced by economic fluctuations, workforce dynamics, and shifts in consumer behavior. As FIBRA Prologis continues its growth trajectory, the insights and strategies developed within the Technical Committee will be crucial in steering its future initiatives.

Furthermore, the forward-looking statements from the company emphasize their awareness of potential challenges ahead, including economic conditions, market competition, and the ongoing impact of global events such as the COVID-19 pandemic. The leadership is clearly focused on safeguarding the interests of shareholders while fostering sustainable growth in a competitive landscape.

In conclusion, the updates to the Technical Committee at FIBRA Prologis signify an important chapter in the company’s ongoing commitment to excellence in industrial real estate. With a solid foundation laid by experienced leaders, the committee is poised to navigate the complexities of the real estate market and enhance its operational efficiencies moving forward.