Change of guard at ProLogis, Europe

Industrial property investor ProLogis's European arm has appointed Gordon Keiser as chief executive officer, with effect from June 1, 2008, replacing Robert Watson, who is returning to the US where he is set to become chief sustainability officer.

Under Watson's tenure ProLogis European Properties (PEP) developed from being a private fund to becoming a company listed on the Euronext exchange in Amsterdam in 2006. According to the firm, Watson will remain on the board of PEP to ensure a smooth transition.   

Keiser is being elevated from his position as senior vice president and treasurer at ProLogis, the management company of ProLogis European Properties. The latter is a significant investor in ProLogis European Properties Fund II (PEPF), the private equity real estate fund which closed in 2007 on €3 billion ($4.6 billion) of commitments from 21 investors.

Chairman Jeffrey Schwartz said in a statement: “Gordon has been intimately involved [with ProLogis European Properties] since its inception as private fund in 1999.”

Paying tribute to Watson, he added: “Robert has been integral to [the company's] success, from inception as a private fund, through its IPO up to the current time. I would like to thank him for his hard work on behalf of PEPR and look forward to his assumption of the leadership of ProLogis’ sustainability effort globally.”