Extra Space Storage Inc. announced that Chief Executive Officer Joseph D. Margolis will retire effective December 31, 2026, following a decade of leadership during which the company's market capitalization grew from approximately $9 billion to $30 billion and annual revenue tripled to $3.5 billion. President W. Noah Springer, who has been with the company since 2006 and previously served as Executive Vice President, Chief Strategy and Partnership Officer, will succeed Margolis as CEO effective January 1, 2027. Springer will also join the board of directors upon assuming his new role, while Margolis will remain a director until year-end before serving as an advisor. The transition follows a long-term succession planning process unanimously approved by the Board of Directors. Extra Space Storage Inc. is the largest operator of self-storage properties in the United States.
