The San Francisco-based real estate investment trust Prologis (NYSE: PLD) announced the retirement of CEO Hamid R. Moghadam, effective Jan. 1, 2026. Dan Letter, currently the company’s president, will succeed Moghadam as chief executive; Letter will also join the company’s board of directors, effective immediately.
Moghadam co-founded Prologis’ predecessor, AMB Property Corporation, in 1983 and led it through its 1997 IPO and 2011 merger with ProLogis.
“This transition has been carefully planned to ensure Prologis’ continued success,” said Moghadam. “Having worked closely with Dan for more than 20 years, I have full confidence in his leadership. He embodies our values and is committed to the company’s long-term vision. I look forward to supporting him and the leadership team in my new role. Today, Dan is responsible for the majority of Prologis’ business lines, including global real estate operations, capital deployment, strategic capital and Prologis Essentials. He has played a key role in Prologis’ tremendous growth and is uniquely qualified to guide the company forward.”
Photo: Hamid R. Moghadam
