ProLogis European Properties (PEPR) is to promote Peter Cassells from chief financial officer to chief executive officer on 2 February.

Cassells will succeed Gordon Keiser, who will retire when he turns 65 in April.

Luxembourg based Cassells has been with PEPR since 2000.

PEPR has appointed Luke A. Lands as interim chief financial officer.

Chairman Geoffrey Bell said: ‘We would like to thank Gordon for his contribution to the business, and wish him well in his retirement. We are delighted that Peter has agreed to accept this appointment which recognises his role in developing and implementing PEPR’s strategy.

Peter has been involved in ProLogis’ European fund business since 2000 and has an intimate knowledge of PEPR and its business operations. Luke will be a valuable addition to the management team, providing continuity during the transition given his financial experience and familiarity with PEPR's European portfolio.’