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Get filing alertsExtra Space Storage CEO Joseph Margolis to retire Dec 31; President Noah Springer named successor
Filed August 24, 2026 · Period ending August 24, 2026 · ~1 min read
Key Changes
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high
CEO Joseph Margolis retiring Dec 31, 2026; President Noah Springer becomes CEO Jan 1, 2027 and joins board. Margolis transitions to board advisor role after 9-year tenure that grew market cap from $9B to $30B.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
medium
Springer brings 20 years at Extra Space, most recently as President since Jan 2026. Previously Chief Strategy and Partnership Officer since 2020; developed Management Plus third-party platform now at ~2,000 locations.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
low
New CEO base salary set at $850,000 annually, plus eligibility for annual bonus, equity awards, and standard executive benefits. No additional compensation for board service.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
Summary
Extra Space Storage announced a planned CEO succession following what the company describes as a thoughtful, long-term process. Joseph Margolis, CEO since 2017, will retire December 31, 2026, and transition to a board advisor role. President Noah Springer takes over as CEO January 1, 2027, and joins the board at that time. The board unanimously approved the transition.
Springer is a 20-year company veteran who joined in 2006 and has held progressively senior roles in acquisitions, third-party management, and asset management. He became President in January 2026 after serving as Chief Strategy and Partnership Officer since 2020.
He developed and leads Management Plus, the company's third-party management platform that now operates almost 2,000 locations and is described as the storage sector's largest and most profitable such platform. During Margolis's tenure, Extra Space grew from approximately 100 million to over 340 million rentable square feet, market cap from $9 billion to $30 billion, and annual revenue from $1.1 billion to $3.5 billion, including major transactions like the Life Storage merger. The succession appears orderly with significant operational continuity—Springer already oversees operations, human resources, third-party management, and joint ventures as President. The nine-month transition window and advisor role provide handoff support.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Joseph D. Margolis, the Company’s Chief Executive Officer, will retire effective as of December 31, 2026. The Company also announced that, in connection with Mr. Margolis’ planned retirement, the Company’s board of directors selected W. Noah Springer, the Company’s current President, to succeed Mr. Margolis as Chief Executive Officer. Mr. Springer will assume the responsibilities of Chief Executive Officer and will join the Company’s board of directors beginning January 1, 2027. Mr. Margolis will remain a director on the Company’s board until December 31, 2026, after which he will serve as an advisor to the board.
The company announced a planned CEO transition. Current CEO Joseph Margolis will retire on December 31, 2026, and current President Noah Springer will succeed him as CEO effective January 1, 2027. Springer will also join the board at that time, while Margolis will transition to a board advisor role after stepping down as director.
Added in current filing · verify on EDGAR →
Mr. Springer, 47, has served as the Company’s President since January 2026, with responsibility for the Company’s operations, human resources, third party management and joint venture departments. Mr. Springer previously served as the Company’s Executive Vice President, Chief Strategy and Partnership Officer since 2020. Mr. Springer has been with the Company since 2006 and has served in various roles with increasing responsibility in acquisitions, third-party management and asset management. Mr. Springer helped create Extra Space Storage’s third-party management platform, and he has managed the Company's joint venture platforms.
Noah Springer brings 20 years of company experience, having joined in 2006. He has held progressively senior roles in acquisitions, third-party management, and asset management, and helped create the company's third-party management platform. He has served as President since January 2026 and previously as EVP, Chief Strategy and Partnership Officer since 2020.
Event · Item 7.01 — Regulation FD Disclosure
CEO Joseph Margolis retiring; Joe Springer appointed as new CEO effective date not disclosed in 8-K body.
Added in current filing · verify on EDGAR →
On August 24, 2026, the Company issued a press release announcing Mr. Margolis’ planned retirement and Mr. Springer’s appointment as the Company’s Chief Executive Officer.
Extra Space Storage announced that CEO Joseph Margolis is retiring and Joe Springer has been appointed as the new Chief Executive Officer. The 8-K body does not disclose the effective date of the transition or additional details about the succession plan; those details may be in the attached press release (Exhibit 99.1).
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Extra Space Storage Inc. (NYSE: EXR) (the “Company”) today announced that Noah Springer, President, will become the Company’s next chief executive officer, effective January 1, 2027. Current CEO Joe Margolis, will retire at the end of the year and serve as an adviser to Extra Space Storage’s Board of Directors. The transition, unanimously approved by the Board, follows a thoughtful, long-term succession planning process.
Noah Springer, currently President, will become CEO on January 1, 2027, succeeding Joe Margolis who retires December 31, 2026. Margolis will serve as an adviser to the Board after retirement. The Board unanimously approved the transition following a long-term succession planning process.
Added in current filing · view on EDGAR →
Springer joined Extra Space in 2006 and became Chief Strategy and Partnership Officer in 2020. He was promoted to President on January 1, 2026. Throughout his tenure, Springer developed, led, and grew the Company’s third-party management platform, Management Plus, which today is the storage sector’s largest, fastest growing, and most profitable third-party management platform with almost 2,000 locations. In addition, Springer has overseen the Company’s asset management, construction and development, human resources, and operations departments.
Noah Springer has 20 years with Extra Space, joining in 2006. He became President on January 1, 2026, after serving as Chief Strategy and Partnership Officer since 2020. He developed and led Management Plus, now the storage sector's largest third-party management platform with almost 2,000 locations, and has overseen asset management, construction, development, human resources, and operations.
Added in current filing · view on EDGAR →
During his tenure as CEO, Margolis has overseen the Company’s accretive growth from ~100 million rentable square feet to more than 340 million rentable square feet. Under his leadership, Extra Space’s market capitalization grew from approximately $9 billion to $30 billion, and annual revenue more than tripled from $1.1 billion to $3.5 billion. Margolis also oversaw multiple large transactions including the acquisition of Storage Express and the Company’s merger with Life Storage.
During Margolis's CEO tenure (2017-2026), Extra Space grew rentable square feet from approximately 100 million to over 340 million, market capitalization from approximately $9 billion to $30 billion, and annual revenue from $1.1 billion to $3.5 billion. He oversaw major transactions including the Storage Express acquisition and Life Storage merger.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
As of June 30, 2026, the Company owned and/or operated 4,410 self-storage stores in 42 states and Washington, D.C. The Company’s stores comprise approximately 3.0 million units and approximately 341.0 million square feet of rentable space operating under the Extra Space brand.
As of June 30, 2026, Extra Space owned and/or operated 4,410 self-storage stores across 42 states and Washington, D.C., comprising approximately 3.0 million units and approximately 341.0 million square feet of rentable space. The company is the largest operator of self-storage properties in the United States. Note: these figures were previously disclosed in the company's Jul 28, 2026 8-K.
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