Board of Trustees

Walt Rakowich is Chief Executive Officer and a member of the Board of Trustees. He also serves as head of the Executive Committee, responsible for setting the strategic direction of the company and monitoring its implementation and progress.

Mr. Rakowich has been appointed to a series of executive positions since joining ProLogis in 1994. Most recently, he served as President and Chief Operating Officer from 2005 to 2008. From 1998 to 2005 he was Managing Director and Chief Financial Officer for ProLogis. Previous to this, Mr. Rakowich held the position of Senior Vice President/Director of the company's Mid-Atlantic region, where he was responsible for expanding the reach of ProLogis to the leading logistics markets in the Midwest and Atlantic states.

Prior to joining ProLogis, Mr. Rakowich spent nine years as a partner with real estate provider Trammell Crow Company and before that was a senior audit and tax consultant for Price Waterhouse in Pittsburgh, Pennsylvania. Mr. Rakowich received his MBA from Harvard Business School and his Bachelor of Science, with distinction, in Accounting from Pennsylvania State University.

Mr. Feinberg has served as a Trustee since January 1993. Mr. Feinberg has been Chairman of the Board and Chief Executive Officer of Dorsar Investment Co., Inc., a diversified holding company with interests in real estate and venture capital since 1970. Mr. Feinberg is also a Director of Security Capital Preferred Growth (an affiliate of Security Capital), Continental Transmission Corporation, MetaMetrics, Inc., St. John's College, The Santa Fe Institute and The Feinberg Foundation, Inc. He was formerly Chairman of the Board of St. John's College and a former Director of Farrar, Strauss and Giroux, Inc. (a private publishing company), Molecular Informatics, Inc., Border Steel Mills, Inc., Springer Building Materials Corporation, Circle K Corporation, EnerServ Products, Inc. and Texas Commerce Bank-First State.

Mr. Fotiades has served as a Trustee since 2001. He is Chairman of the Healthcare investment practice at Diamond Castle Holdings, a private equity investment firm that works in partnership with management teams to execute leveraged buyouts and make growth capital and equity-like investments in public and private companies.

Prior to joining Diamond Castle in 2007, Mr. Fotiades was President and Chief Operating Officer of Cardinal Health, Inc., the Fortune 20 leading provider of products and services supporting the health care industry. Prior to that position, he served as President and CEO of Cardinal's Pharmaceutical Technologies and Services segment, the largest provider of contract manufacturing and packaging services to the pharmaceutical industry. Previously, he served in a variety of executive roles, including President of Warner-Lambert's consumer healthcare business and senior positions at Bristol-Myers Squibb, Wyeth and Procter and Gamble.

Mr. Fotiades is non-executive Chairman of Catalent Pharma Solutions (the former Pharmaceutical Technologies and Services segment of Cardinal), and a Director of the Alberto-Culver Company (NYSE: ACV). He holds an A.B. from Amherst College and an M.M. from The Kellogg School of Management at Northwestern University.

Christine Garvey was appointed as a member of the Board of Trustees of ProLogis in September 2005. She has served as a consultant to Deutsche Bank AG since May 2004. From May 2001 to May 2004, Ms. Garvey served as Global Head of Corporate Real Estate Services at Deutsche Bank AG London. Prior to this, Ms. Garvey served as Group Executive Vice President at Bank of America. From December 1999 until April 2001, Ms. Garvey served as Vice President, Worldwide Real Estate and Workplace Resources at Cisco Systems, Inc. Ms. Garvey has been a member of the board of directors of Hilton Hotels Corporation since May 2005 and was a member of Catellus' board of directors from 1995 to September 2005.

Mr. Jacobs was elected as a Trustee in February 1996. Mr. Jacobs has been a faculty member of the J.L. Kellogg Graduate School of Management of Northwestern University since 1957, and he is currently Dean Emeritus, having served as Dean from 1975 until 2001. Mr. Jacobs is a director of Hartmarx Corporation, Terex Corporation, and CDW Computer Centers. Mr. Jacobs was formerly a Director of Commonwealth Edison and its parent company, Unicom and he was formerly Chairman of the Public Review Board of Andersen Worldwide. Mr. Jacobs was Chairman of the Advisory Committee of the Oversight Board of the Resolution Trust Corporation for the third region from 1990 to 1992, Chairman of the Board of AMTRAK from 1975 to 1979, Co-Staff Director of the Presidential Commission on Financial Structure and Regulation from 1970 to 1971, and Senior Economist for the Banking and Currency Committee of the U. S. House of Representatives from 1963 to 1964.

Lawrence V. Jackson was appointed as a member of the Board of Trustees of ProLogis in March 2008.

Currently, Mr. Jackson serves as the CEO of SourceMark LLC. Prior to this, he served as head of global procurement for Wal-Mart, the world's largest retailer. In this role, he directed the efforts of purchasing offices in 28 countries and implemented programs to improve the company's factory sourcing. Prior to his procurement role, Mr. Jackson served as Executive Vice President and Chief People Officer of Wal-Mart, responsible for overall human resources planning, training, executive development and regulatory issues for the company's 1.5 million associates worldwide. In that role, he implemented programs designed to accelerate promotion opportunities for women and minorities.

Prior to Wal-Mart, Mr. Jackson was President and Chief Operating Officer of Dollar General Stores, an $8 billion deep-discount retailer, where he oversaw operations for more than 7,000 stores and drove significant increases in the pace of new store openings while improving same-store results. From 1997 to 2003, he served as Senior Vice President, Supply Operations for Safeway, Inc., where he led the manufacturing, distribution and "Safeway Select" private-label operations for the company, rationalizing the number of plants and growing outside sales for the business.

The majority of Mr. Jackson's career was spent in various management positions with PepsiCo, beginning in plant management and then moving into senior roles within the company's bottling operations and food service divisions. Prior to PepsiCo, he served as a consultant with McKinsey & Co and was part of the corporate lending group at Bank of Boston.

Mr. Jackson received his Bachelor of Arts degree in Economics from Harvard College and his Masters in Business Administration from Harvard Business School.

Bud Lyons returned to the ProLogis Board of Trustees in September 2009 after a three-year absence. He served on its board from 1996 until his retirement in 2006 and held various management team positions from 1993 to 2004.

Mr. Lyons served as ProLogis' chief investment officer from 1997 to 2004 (president and CIO from 1999 to 2001). Prior to this, he was a managing director from 1993 to 1997. Lyons joined ProLogis when King & Lyons, an industrial real estate management and development company based in San Francisco, was acquired by ProLogis in 1993. Mr. Lyons had been a managing general partner in that firm since its inception in 1979 and was one of its principals at the time of acquisition.

Mr. Lyons received his Bachelor of Science degree in Industrial Engineering and Operations Research from the University of California, Berkeley, and his Masters of Business Administration from Stanford University.

Mr. Steuert was appointed as a Trustee in 2003. He has been senior vice president and chief financial officer of Fluor Corporation since 2001. Mr. Steuert served as senior vice president and chief financial officer for Litton Industries Inc. from 1999 to 2001, when Northrop Grumman acquired the company. Before joining Litton, Mr. Steuert served as senior vice president and chief financial officer for GenCorp Inc.

Mr. Steuert began his financial management career in 1971 with TRW and served in several management positions over a 15-year period. Mr. Steuert also served as president of the Board of Trustees of the Mental Health Association of Summit County in Ohio , regional director of the Financial Executive's Institute, and as a Director on the GenCorp Inc. Board. He is a Director of Weyerhaeuser Corporation.

Mr. Teixeira has served as a Trustee since 1999. Currently, he is Vice President, International Research and Development for Campbell Europe, part of the Campbell Soup Co. Mr. Teixeira was a founding partner of eemPOK, a management consulting firm in Belgium. At various times since 2001, Mr. Teixeira has been Chairman and Senior Partner with BBL Partners LLC, Moscow, Russia, a consulting and trading company specializing in the food and food ingredient industry. He was a Vice President, Global Innovation and Development, of InBev, formerly Interbrew, a publicly traded brewer in Belgium, from February 2003 to October 2004, and President of Coca-Cola for the Russia and Ukraine region, General Manager of Coca-Cola Russia, Ukraine and Belarus, and Head of Representation for the Coca-Cola Export Corporation, Moscow from 2000-01. Mr. Teixeira was General Manager / President of the Coca-Cola Ukraine and Belarus region, Kiev, from 1998 to 2000 and was with Coca-Cola in various capacities since 1978.

Ms. Zulberti was appointed as a Trustee in May of 2005. She recently retired as the Managing Director for Barclays Global Investors, one of the world's leading money managers. In her role as Head of Global Operations/Global Chief Administrative Officer for Barclays, Ms. Zulberti was instrumental in evolving the company's business model, helping it to achieve a leading market position. Ms. Zulberti joined Barclays in 1989 as Chief Financial Officer and during her 14-year tenure with the firm she served as a managing director and executive officer of five affiliated companies.

Ms. Zulberti also served as the Chief Financial and Administrative Officer for Addison Design Consultants, based in London. Prior to this, she spent several years with Kemper/Cymrot Inc., a real estate syndication company, as the Executive Vice President of Operations, Chief Financial Officer and a member of the Board. Ms. Zulberti is fluent in French and speaks Cantonese and Portuguese.