Prologis chief executive Jeff Schwartz has taken on the additional role of board chairman.

His new role, effective immediately, was announced this morning following ProLogis’ annual meeting of shareholders at the company’s US headquarters in Denver, Colorado.

Schwartz takes over from Dane Brooksher, who is to remain on the 12-strong board as lead trustee and will continue to provide advice on the company’s strategy.

‘I am personally grateful to Dane for the many years of leadership and strategic guidance he has provided to our company,’ Schwartz said. ‘His pioneering, customer-centric vision for ProLogis has been a primary driver of our growth and global success, and we look forward to his continued contributions as a member of our distinguished board.’