Public Storage Names New CEO, CFO

   By Bowdeya Tweh

Public Storage (PSA) on Thursday named a replacement for its long-time chief executive and a new chief financial officer.

Joe Russell, who has served as president since 2016, will become CEO on Jan. 1, replacing Ron Havner, who previously announced that he would step down from the role. Mr. Havner, who has served as CEO since 2002, will remain board chairman.

Tom Boyle, who will begin his new role as CFO on Jan. 1, served as the finance leader for operations since 2016. He will replace John Reyes, who had been in the role since 1996.

Messrs. Russell and Reyes also will join the company's board.

Public Storage, a Glendale, Calif.-based real-estate investment trust, buys, develops, owns and operates self-storage facilities.

The company had interests in 2,418 self-storage facilities located in 38 U.S. states and 228 storage sites in western Europe under its Shurgard brand as of Sept. 30. The company also has 42% stake in PS Business Parks Inc.

Write to Bowdeya Tweh at bowdeya.tweh@wsj.com

(END) Dow Jones Newswires

December 27, 2018 17:46 ET (22:46 GMT)

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