Extra Space Storage Appoints Joe Margolis To Succeed Spencer Kirk As CEO

(RTTNews) - Extra Space Storage Inc. (EXR), an operator of self-storage facilities in the United States, announced Monday that it has appointed Joseph Margolis as the Company's Chief Executive Officer, effective January 1. Margolis succeeds Spencer Kirk, who will retire as the CEO effective December 31, 2016.

Kirk will continue to serve on the Company's board of directors, while devoting significant attention to his non-profit foundation, Kirk Humanitarian.

Margolis, the Company's Chief Investment Officer since July 2015, had been a member of the Company's board of directors from February 2005 to July 2015 and served on its Audit Committee and Compensation, Nominating and Governance Committee.

Prior to joining Extra Space, Margolis served as Senior Managing Director and Partner at Penzance Properties in the Washington, D.C. metro area. Previously, he was a co-founding partner of Arsenal Real Estate Funds from 2004 through 2011.