SAN FRANCISCO, Dec. 21, 2023 /PRNewswire/ — Prologis, Inc. (NYSE: PLD) today announced that Vice Chairman Gene Reilly will be retiring at year end, after which he will serve as a senior advisor through April 2024.
Reilly has played a critical leadership role in almost every respect of the company’s growth and evolution for more than two decades. He is considered as one of the most knowledgeable global experts on logistics real estate and, during his career, has contributed his time and leadership skills to the industry via trade organizations such as NAIOP, ULI and the Real Estate Roundtable.
“Gene has been a driving force behind our many M&A transactions and the subsequent team integration and portfolio re-positioning efforts,” said Prologis Co-Founder, Chairman and CEO Hamid R. Moghadam. “His influence has extended to every part of Prologis, especially with our real estate teams and our focus on customer centricity.”
Within Prologis, Reilly is known as a tireless promoter of best practices in facility design and construction, clear and concise communication, and innovations such as the Clear Lease, which he conceived several years ago to leverage the company’s growing scale.
“I am very proud of the company’s extraordinary growth over the past 20 years, but even more proud of the fact we managed this growth responsibility from a balance sheet perspective and very intentionally from a cultural perspective,” Reilly said. “Prologis has the best portfolio, customer relationships, public and private investor relationships, and people in the industry. We will continue to innovate and grow our offerings to customers, and I am incredibly optimistic about the future for all of our people and investors.”
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At September 30, 2023, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (114 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally across two major categories: business-to-business and retail/online fulfillment.
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” and “estimates” including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading “Risk Factors.” We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.
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SOURCE Prologis, Inc.
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