Jeffrey H. Schwartz becomes chief executive officer and Walter C. Rakowich is president and chief operating officer. Brooksher and Lyons remain on the board of trustees.
Schwartz, 45, was president of international operations since March 2003 and president and chief operating officer of the Asia division since March 2002. Prior to originally joining ProLogis in October 1994, Schwartz was a founder and managing partner of the Krauss/Schwartz Co., an industrial real estate developer in Florida.
Rakowich, 47, was managing director and chief financial officer of ProLogis since December 1998, where he was responsible for worldwide corporate finance. Rakowich has been with ProLogis in various capacities since July 1994. Prior to joining ProLogis, Rakowich was a consultant to ProLogis in due diligence and acquisitions, and was a principal with the Trammell Crow Co. Tim Streeb, a Denver spokesman for ProLogis, tells GlobeSt.com the reorganization is exactly as previously announced by the company.
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