Prologis has appointed Tim Arndt as its new chief financial officer (CFO), effective April 1, 2022.
Arndt, who has been with Prologis since 2004, will succeed long-time CFO Tom Olinger, who plans to retire.
”A well-respected leader in the logistics real estate industry, Olinger has had a significant impact on Prologis and on the industry overall,” said Prologis in a statement. ”During his tenure, the company significantly expanded its scale and scope, moving into the top 100 companies of the S&P 500 and growing its total square footage from less than 150 million to one billion.”
“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,” said Prologis CEO and co-founder Hamid R. Moghadam. “Tom has been a great partner and a key leader for our company for 15 years. I’ve appreciated and relied on his level-headed and thoughtful approach. He will be greatly missed, and we wish him the very best in his retirement.”
He continued: “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. He knows the industry and our business very well and has played an important role in building our financial strategy for many years.”
Olinger will remain with the company through the balance of the year as part of the transition plan. When he retires, he plans to focus full time on philanthropic causes.
“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.”
As the new CFO, Arndt will be responsible for the company’s worldwide corporate finance. His areas of responsibility will include 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,” said Arndt. “The company has incredible growth opportunities, both organic and inorganic, which I look forward to seizing together with this highly capable team.”
Arndt is a seasoned finance leader with Prologis, having joined AMB in 2004 in portfolio management for the company’s Strategic Capital business. Over his tenure, he has worked in several capacities, including as corporate treasurer, head of corporate planning and in the company’s global deployment team. Previously, Arndt worked in real estate strategy at Gap Inc. and in debt capital markets at Forest City Enterprises.