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Prologis, a logistics real estate investment trust (REIT), has announced that co-founder Hamid R. Moghadam will be stepping down from his role as CEO on Jan. 1, 2026. However, he will remain as executive chairman while Dan Letter, who has been with Prologis since 2004 and currently serves as company president, will take over the position of CEO.
Moghadam expressed confidence in Letter’s leadership abilities and stated that this transition was carefully planned to ensure the continued success of Prologis. He also mentioned that he looks forward to supporting Letter and the rest of the leadership team in his new role.
Moghadam co-founded AMB Property Corporation (which later became Prologis) in San Francisco in 1983. Under his guidance, the company experienced significant growth and went public through a successful IPO in 1997 before merging with ProLogis in 2011.
In response to Moghadam’s retirement announcement, Letter praised him for starting this company over four decades ago and leading it to great heights. He also expressed excitement about working together with Moghadam and other members of management to continue growing and strengthening Prologis’ position within its sector due to its sizeable scale, crucial role within supply chains,and disciplined approach towards managing its balance sheet.
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