Summary
This 8-K filing from Prologis, Inc. announces a significant leadership transition. Effective December 31, 2012, Walter C. Rakowich will retire from his roles as a member of the board of directors and co-chief executive officer. This move realigns the company's leadership structure following the January 2011 merger with AMB Property Corporation. As a result of this change, Hamid R. Moghadam, who has been serving as co-chief executive officer, will assume the full responsibilities of chief executive officer and will also serve as chairman of the board, effective January 1, 2013. Investors should note that this is a planned succession that streamlines the executive leadership and consolidates the roles as previously communicated during the merger. The company also attached a press release dated December 27, 2012, detailing these executive changes.
Key Highlights
- 1Walter C. Rakowich is retiring as a director and co-chief executive officer, effective December 31, 2012.
- 2Hamid R. Moghadam will transition to sole Chief Executive Officer and Chairman of the Board.
- 3This leadership change is effective January 1, 2013.
- 4The succession plan was originally announced in January 2011, following the merger with AMB Property Corporation.
- 5The filing includes a press release dated December 27, 2012, as an exhibit.
- 6This is a planned leadership transition to consolidate executive roles.