K. Dane Brooksher will resign as chief executive on Dec. 31, 2004, but will remain chairman. He has served as chairman and chief executive since 1999 and as a trustee since 1993.
Irving F. Lyons III will also relinquish his posts as vice chairman and CEO in 2004 under the plan.Lyons will remain a member of the board of trustees and will serve as chairman of the board's investment committee.
ProLogis says its board and senior management have been "actively involved" in succession planning, and the board's succession committee has met regularly on ensuring a smooth leadership transition.
ProLogis is giving so much advanced notice of the changes because it wants to assure a seamless transition to its next generation of leaders.
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