Extra Space Storage announced on August 24, 2026 that CEO Joseph Margolis will retire effective December 31, 2026. The board has picked current President W. Noah Springer — a company veteran since 2006 who helped build its third-party management platform — to take over as CEO and join the board on January 1, 2027. Margolis will stay on as a director through year-end and then shift into an advisory role for the board. Springer's base salary as CEO will be $850,000, and he remains eligible for the annual bonus and equity awards under the company's existing executive compensation program.
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