Logistics real estate investment trust Prologis Inc. announced Tuesday the retirement of CFO Tom Olinger. The company’s treasurer, Tim Arndt, will succeed Olinger on April 1.
Olinger joined Prologis (NYSE: PLD) in 2011 following the company’s merger with AMB Property Corp., where he was serving as CFO. In his time with Prologis, the company has grown its portfolio from less than 150 million square feet of space to 1 billion. Prologis is now one of the top 100 companies in the S&P 500.
“Tom’s leadership has materially contributed to the success of the company over his years of service. This includes the integration of numerous transactions, as well as building an industry-leading financial infrastructure and team that position us for continued success,” Hamid Moghadam, CEO and co-founder, stated in a press release.
Olinger will remain with Prologis through 2022 as part of the transition process.
Arndt also came to Prologis via the AMB merger. He joined AMB in portfolio management in 2004. Before his current position at Prologis, Arndt’s roles have included head of corporate planning and working as a member of the global deployment team.
“Looking to the future, I believe Tim’s expertise and extensive business experience make him the ideal next CFO as we continue our focus on delivering long-term value to our shareholders,” Moghadam said. “He knows the industry and our business very well and has played an important role in building our financial strategy for many years.”
In his new role, Arndt will head corporate finance, overseeing treasury, cash management, financial planning and reporting, accounting, tax, investor relations and internal audit.
“I am very excited and honored to step into this role for Prologis, a company I’ve believed in and served for 18 years,” Arndt said. “The company has incredible growth opportunities, both organic and inorganic, which I look forward to seizing together with this highly capable team.”
“Serving as Prologis’ CFO has been the highlight of my career,” said Olinger. “I’m so proud to see how this company has prospered and excited knowing that Prologis’ best years are still ahead. We have a deep bench of financial talent, and I am confident that under Tim’s leadership, the finance team will further help drive the company’s growth.”
Prologis Ventures is an investor in FreightWaves.
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