The reshuffling of senior executives at US logistics developer and fund manager ProLogis continues with managing director for North America Charles Sullivan promoted to head of global operations. At the same time, ProLogis said chief operating officer Diane Paddison resigned “to pursue other opportunities.”
Sullivan, 51, has been with the ProLogis since 1994. He will have overall responsibility for global operations, including the coordination of property management and leasing, information technology, marketing and global customer relationships.
The departure of Paddison is the latest in a string of senior executives at the company to leave after it declared a change in strategy late last year. The new strategy sees it undertake a number of cost saving initiatives, including reducing its head count by at least 20 percent and halting all new development globally. It has also sold its China and Japanese operations to GIC Real Estate.
Other senior departures include chairman and chief executive Jeff Schwartz, head of central and eastern Europe Michael de Jong-Douglas, and chief executive of ProLogis European Properties (the European fund managed by a subsidiary of ProLogis Gordon Keiser, although he retired from his position.
“Diane contributed to ProLogis' global operations during a challenging time in the company's history,” said Walter Rakowich, ProLogis’s chief executive officer. “She led efforts to reduce G&A by more than 20 percent and with her focus on organizational process helped to bring together global teams in the areas of operations, technology, sustainability, marketing and customer account management.”